Measuring Protection

Cover Measuring Protection
Measuring Protection
William P William Penfield Travis
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This difficulty would be eliminated and the seriousness of one part of the problem largely dispelled, if we imagined that each country has at least a small amount of each type of primary resource, such as Dooars tea land. Champagne v/ine land, Bolivian tin land, etc, along with the appropriate climate in each case, so that one could observe how the United States, France, Japan, India, etc. Would use their general factors, labor, capital, etCo, to produce the respective specific products^ If onl...y iota of such factors were thus transplanted, it would make negleglble economic difference, but one could accurately assess the Importance of the resources to the countries possessing them in sizable amounts. At the same time, the factors themselves, rather than their products, could be Included in drawing up the factor-service indifference curves, which could then be placed in the same factor space.
-41- This device would still leave open the possibility that a particular country might fall to protect a particular product, but import its entire requirements instead, as the United States imports all its manual typewriters, for instance, A more general treatment is therefore desirable.


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