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David Hume (7 May 1711- 25 August 1776) was a Scottish philosopher, historian, economist, and essayist, known especially for his philosophical empiricism and skepticism. He is regarded as one of the most important figures in the history of Western philosophy and the Scottish Enlightenment. Hume is often grouped with John Locke, George Berkeley, and a handful of others as a British Empiricist. Beginning with his A Treatise of Human Nature (1739), Hume strove to create a total naturalistic "science of man" that examined the psychological basis of human nature. In stark opposition to the rationalists who preceded him, most notably Descartes, he concluded that desire rather than reason governed ...
The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.
'... a well written book ... covering ... a vast amount of material ... well balanced between the theoretical and applied works. The authors are judicious and fair in providing a balanced treatment of the two alternative theories of growth performance: supply-oriented and demand-oriented. The book will serve as a guideline to researchers and policymakers ... as a textbook for upperdivision undergraduate and graduate courses.'- Kashi Nath Tiwari, Kennesaw State College This is the first book of its kind to argue in a consistent and comprehensive way the idea that a country's growth performance cannot be properly understood without reference to the performance of its tradeable goods sector and...
Assistant Trader Jethri Gobelyn is an honest, hardworking young Terran who knows a lot about living onboard his family's space going trade ship 'Gobelyn's Market', something about trade, finance, and risk taking and a little bit about Liadens. Oddly enough, it's the little bit he knows about Liadens that seems likely to make his family's fortune¾and his own. In short order, however, Jethri Gobelyn is about to learn a lot more about Liadens . . . like how far they might go to protect their name and reputation. Like the myriad of things one might say¾intentionally or not¾with a single bow. Like how hard it is to say "I'm sorry!" in Liaden. Like how difficult it is to deal with a beguiling set of Liaden twins who may very well know exactly what he's thinking . . . . Soon it became clear that as little as he knew about Liadens, he knew far less about himself. With his very existence a threat to the balance of trade, Jethri needs to learn fast, or become a pawn in a game that will destroy all he has come to hold dear. At the publisher's request, this title is sold without DRM (Digital Rights Management).
Norman Miller provides a fresh perspective on balance of payments and exchange rate theories, including intertemporal open economy models that focus on the optimum current account. To this end, he proves that any non-zero balance of payments must always be associated with a disequilibrium in either a commodity or an asset market. In this rigorous yet readable book, important welfare and policy implications are carefully examined. Norman Miller develops a new theory of the balance of payments associated with commodity market disequilibrium, a loanable funds theory of exchange rate and a modern foreign exchange market theory of the exchange rate that incorporates capital flows.
How should a principled nation which believes in the benefits of mutually beneficial trade respond to the predations of mercantilist trading partners and imbalanced trade? Many argue that the response should be to do little or nothing. Balanced Trade argues that achieving the full benefits of international trade requires an effective response. Although trade deficits provide short-term gains in consumption, these are combined with long-term losses in consumption, innovation, investment, employment and power. Furthermore, market mechanisms do not correct trade imbalances that result from mercantilism, nor do they compensate for the long term shift in production and consumption towards the mer...
A companion document to the fifth edition of the Balance of Payments Manual, the Balance of Payments Compilation Guide shows how the conceptual framework described in the Manual may be implemented in practice. The primary purpose of the Guide is to provide practical guidance for using sources and methods to compile statistics on the balance of payments and the international investment position. the Guide is designed to assist balance of payments compilers and statisticians in understanding the relative strengths and weaknesses of various approaches. The material reflects the emergence of new data sources and adaptations in the application of statistical methodologies to changing circumstances. Discussed in the Guide are all of the tasks that a BOP compiler normally performs. Appendices contain a set of model BOP questionnaires and a set of model BOP publication tables. Relationships between the balance of payments statistics and relevant aspects of national accounts are covered as well.