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The Heckscher–Ohlin Theorem, which is concluded from the Heckscher–Ohlin model of international trade, states: trade between countries is in proportion to their relative amounts of capital and labor. In countries with an abundance of capital, wage rates tend to be high; therefore, labor-intensive products, e.g. textiles, simple electronics ...
The result was that Germany found it increasingly difficult to maintain a balance of payments. A large trade deficit seemed almost inevitable. But Hitler found this prospect unacceptable. Germany began to move away from partially free trade in the direction of economic self-sufficiency. [96]
The Heckscher–Ohlin theorem is one of the four critical theorems of the Heckscher–Ohlin model, developed by Swedish economist Eli Heckscher and Bertil Ohlin (his student). In the two-factor case, it states: "A capital-abundant country will export the capital-intensive good, while the labor-abundant country will export the labor-intensive good."
[1] was an approach to academic economics and to public administration that emerged in the 19th century in Germany, and held sway there until well into the 20th century. The professors involved compiled massive economic histories of Germany and Europe. Numerous Americans were their students. [2] The school was opposed by theoretical economists.
The Heckscher–Ohlin Theorem, which is concluded from the Heckscher–Ohlin model of international trade, states: trade between countries is in proportion to their relative amounts of capital and labor. In countries with an abundance of capital, wage rates tend to be high; therefore, labor-intensive products, e.g. textiles, simple electronics ...
The result was that Germany found it increasingly difficult to maintain a balance of payments. A large trade deficit seemed almost inevitable, but Hitler found this prospect unacceptable. Thus Germany, following Italy's lead, began to move away from partially free trade in the direction of economic self-sufficiency. [131]
Germany ranks third in the QS World University Rankings 2011. [64] Most German universities are public institutions, charging fees of only around €60–500 per semester for each student, usually to cover expenses associated with the university cafeterias and (usually mandatory) public transport tickets.
In 1873 free trade won its last victory in Germany with the abolition of the duty on iron. [4] Tariffs were now for raising revenue and not for protective purposes, with the German Empire therefore almost a completely free-trading state. [5] In 1850 two-thirds of Germany was employed in agriculture and this proportion declined slowly until 1870 ...