Category: Academic Theory
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How Global Are We?
In 1983, Theodore Levitt, the late Harvard Business School professor and editor of the Harvard Business Review, wrote a controversial article…
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Importing and Exporting
Importing (buying products overseas and reselling them in one’s own country) and exporting (selling domestic products to foreign customers) are the oldest and…
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Comparative Advantage
How can we predict, for any given country, which products will be made and sold at home, which will be…
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Absolute Advantage
A nation has an absolute advantage if (1) it’s the only source of a particular product or (2) it can make more…
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Why Do Nations Trade?
Why does the United States import automobiles, steel, digital phones, and apparel from other countries? Why don’t we just make…
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The Globalization of Business
The globalization of business is bound to affect you. Not only will you buy products manufactured overseas, but it’s highly…
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Multinational Corporations
A company that operates in many countries is called a multinational corporation (MNC). Fortunemagazine’s roster of the top five hundred MNCs speaks…
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How to value your imports for customs duty and trade statistics
This guide⊕ explains the requirements of the import valuation system. It outlines the different valuation methods for determining the value…
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Export licensing decisions
Licence applications are submitted to and processed by the Export Control Organisation (ECO), part of the Department for Business, Innovation…
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Economic Fables
Part memoir, part crash-course in economic theory, this deeply engaging book by one of the world’s foremost economists looks at…