Mysteries of the modern

Article Abstract:

The world capital market is becoming unified but still has some boundaries. Four criteria for judging the unification of a market are given: efficient transactions, diversity of holdings of assets, rates of savings and investment, and cost of capital as determined by interest rates.

Capital market, Capital markets

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Freer trade, with luck

Article Abstract:

The Uruguay Round of GATT negotiations may soon conclude, since a compromise on the main sticking point, farm subsidies, is near. The removal trade barriers envisioned by the agreement could raise the total value of the world's economic activity by $100 billion annually.

Editorial, Forecasts and trends, Negotiation, mediation and arbitration, Agricultural subsidies, Trade negotiations, Free trade

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So close, and yet so far: GATT

Article Abstract:

Arthur Dunkel, director of the General Agreement on Tariffs and Trade, authored a 436-page agreement which the member nations will discuss at the next round of talks. Objections by Germany, France, and the US are presented.

Economic policy, Dunkel, Arthur

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