International commodity control : a contemporary history and appraisal

摘要: This book represents remarkable scholarship on primary commodity issues by a single person. The author has both an academic background and many years of experience in the international division Bank England this operational-scholarly combination is evident presentation. should be read persons interested issues. scope ambitious. Its main focus efforts to control prices earnings but it deals also with institutional structure under which controls were attempted. bulk taken up discussion specific commodities. commodities are categorized into three groupings: those have longest consistent history producer-consumer agreements (tin, wheat, sugar); for been less regular (rubber, coffee, cocoa, tea, olive oil); subject what calls cartels, i.e., over producers sought exercise joint (crude petroleum, mercury, bauxite, uranium, iron ore). These individual examinations preceded reasons seeking concludes appraisal how effectively achieved desired objectives. Dr. GordonAshworth tempered her statements she eminently fair Those institutions supporting based their arguments perceived problems: secular decline terms trade exporters vis-a-vis countries exporting manufactures; vulnerability developing market changes; adverse consequences economic development short-term price instability products. notes that terms-of-trade proposition, first expounded Economic Commission Latin America, not proven; makes clear scholars disagree whether impedes growth. She interesting observations about controls. There no correlation between importance world at control. Tin oil, cite two cases there agreements, relatively minor trade. U.S. position consistent. supported wheat controls, where had producing interest, generally opposed