First published in 1978. This book provides a simple, systematic, yet rigorous treatment of the key aspects of the pure theory of international trade and distortions. The opening chapter presents the standard two-factor, two-commodity barter model of international trade and a comprehensive treatment of the important properties and relationships. The rest of the book consists of four sections: parts One and Two are devoted to an analysis of factor market imperfections, and Parts Three and Four consider the trade-theoretical consequences of product market imperfections. A concluding chapter presents some generalised theorems. This book would be of interest to students of economics.

Acknowledgements; Introduction; 1. A model of a Trading World; Part One: The Theory of Factor Price Differentials and the Pure Theory of International Trade; 2. Factor Price Differentials, the Shape of Transformation Locus and the Relationship Between Prices and Output Levels 3. Factor Price Differentials and the Theorems on Gains and Trade 4. Factor Price Differentials, Economic Expansion and Welfare 5. Factor Price Differentials, Economic Expansion, Terms of Trade and Welfare at Variable Terms of Trade; Part Two: Minimum Wage Rates and the Pure Theory of International Trade; 6. Minimum Wage Rates and Some Propositions in the Pure Theory of Trade 7. Sector-Specific Minimum Wages, Urban Unemployment and Optimal Commercial Policy in a Small Open Economy; Part Three: Externalities and the Pure Theory of International Trade; 8. Meade-Type Production Externalities and Some Propositions in the Pure Theory of Trade 9. Monopoly and Some Propositions in the Pure Theory of Trade; Part Four: Tariffs, Illegal Trade and Immiserising Growth; 10. Tariffs, Smuggling, Welfare and Immisering Growth 11. Conclusions and Some General Propositions in the Pure Theory of International Trade and Distortions; Appendix: The Derivation of the Offer Curve and Stability Conditions; Index