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International Economic Organisations

The purpose of permanent organisations in the national as well as in the international sphere is the accomplishment of tasks of a lasting character which cannot be achieved by short term arrange- ments. In the wider international field political and religious organisations of a permanent character preceded the formation of economic agencies. After the breakdown of mercantilism and the triumph of liberal economy in the nineteenth century a multi- lateral network of world trade revealed the existence of a world trading community as its social background.

Additional information

Author

Charles Henry Alexandrowicz

Accession No

3242

Language

English

Number Of Pages

288

Title_transliteration

Carvatēca poruḷātāra amaippukaḷ

Publisher

The London Institution Of World Affairs

Publisher Year

1952

Gener

Book

Categories: , Tags: , Product ID: 25642

Description

The disintegration of mercantilist economy which gradually found its expression in the writings of Locke, Hume, Adam Smith and others, resulted in the general conviction that an international division of labour would be to the benefit of all civilised nations. The withdrawal of the State from the economic sphere left all economic initiative and activity to the private community. As trade developed across national frontiers without interference of governments, the private business community became a horizontal world stratum. whose transactions were governed by a normal market regime.1 Once habits of united action were evolved all over the world, the need for a mechanism of world economic balance arose and found its solution in the gold standard. A community of Central Banks under the leadership of the Bank of England was in charge of this mechanism. Whereas the world trading community remained as a whole an invisible body, the Central Bankers’ team assumed the form of an informal quasi-organisation or a club and deserves therefore a more detailed discussion.

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