Gains from trade, materials supplies, and economic development.

by Charles Wolf, Jr.

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An assessment of the feasibility of the objectives of U.S. economic assistance to underdeveloped countries from the standpoint of their connection with economic development, defined in terms of secularly rising national income. The connection between economic development on the one hand, and, successively, U.S. terms of trade, volume of trade, and materials supplies on the other, is shown to be too uncertain for these to be practical objectives of development aid. Aid directed toward maximizing development will not necessarily maximize trade gains and materials supplies. Maximum development may even reduce U.S. gains from trade with, and U.S. materials supplies from, the underdeveloped countries.

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