This book develops new, original methods of welfare comparison and comparative dynamics between distinct and discretely positioned (rather than continuously related) socioeconomic situations. These methods are not only realistic but also extremely relevant to serious economic problems. Using...

Purpose − This chapter reconsiders the role of the WTO in the world economy, where regional free trade agreements have proliferated to threaten its basic rule of multilateral and non-discriminatory tariff reduction and the deepening of globalization has developed international concern about...