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The article presents abstracts of geographical research papers. In the research paper "A Geographical Study of Nova Scotia," researcher R.H. Whitebeek discusses the geographic conditions of Nova Scotia. Lying nearer Europe and possessing many excellent harbors and peopled by immigrants from the best European stocks, the province of Nova Scotia in Canada has now, after 300 years, fewer people than the city of Boston, Massachusetts. Its total manufacturing output is less than that of single companies in New England, and the province has shared but slightly in Canada's economic growth.

The article comments on the perspective of professors Georg Rich and Raymond F. Mikesell on the operations of the Eurodollar market using different perspectives in Europe. The author explains that the work of Rich and Mikesell makes the point that Eurodollar volume and rates are determined simultaneously with the United States balance of payments, foreward exchange premiums, and other international financial variables. It is the author's belief that Rich and Mikesell do not adequately handle this issue in their paper. The author presents several criticisms of the works.

The article comments on the paper related to social development in the Philippines. The author of the paper had neglected the vast body of European and American study of and in both Western and non-Western societies. Even though it is justifiable that conceptualization and methodology must be developed in relation to the particular "time-space characteristics" of the research situation, it not justifiable to adopt some as yet undeveloped and essentially unknown "new" theory. The author of the paper had discarded too lightly the enormous experience of "Western" social scientists in observation and interpretive analysis of socio-cultural patterns ranging from the most "scared" to the most nearly "secular." The use of scientific experience remains the most powerful intellectual guide which man has yet devised. The de-emphasis of "quantitativism" in favor of field and problem-oriented study is vitally necessary. The author of the paper easy slip into the concretistic error of assuming that the historical peculiarities of Philippine societal development require unique interpretive tools.

In view of the unsettled condition of European industry and finance, of the depreciated and fluctuating exchanges, and of the enormously heavy tax burdens, existing or prospective, pressure for prompt payment of either principal or interest at any early date would be most unwise. But eventual payment under a generously elastic funding arrangement is both possible and probable. The burden of settling for past wars will be less irksome than that of earlier days devoted to preparation for future wars, and the disturbance to the international money markets and exchange long since stabilized will be inconsiderable. Though advocating the cancellation of this foreign indebtedness, It should, however be a endeavor to make it at the same time an instrument of reform. It might fairly be required, in return for a gradual and progressive cancellation of these debts, that the debtor nations balance their budgets, that they stop the further emission of paper money and that they apply their resources to economic purposes rather than to armament.

The article comments on the papers "The Changing Role of U.S. Banks in International Financing," by George H. Chittenden, "The International Money Market: Structure, Scope and Instruments," by Fred H. Klopstock, and "The Integration of European Capital Markets," by Oscar L. Altman, all published within the issue. The author looks at changes occurring in European capital markets, international money markets, and commercial bank lending. The movement toward better organized markets for long-term capital in Western Europe is discussed.

The article presents a conference paper in response to another paper published in this same issue titled "Cost of the Marshall Plan to the United States," by Seymour E. Harris. The author notes that Harris may not have had the advantage of reading the 240 page report containing the U.S. President Harry Truman's proposals for European recovery. The author considers the role of financial measures in economic recovery, stabilization loans, and the validity of the cost estimates of the Plan.

The article presents a conference paper in response to another paper published in this same issue titled "What Can Europe Do For Itself?," by Calvin B. Hoover. The author agrees with Hoover's assessment and concern about the control of inflation in Europe and presents a solution that involves grants-in-aid which would allow the U.S. some control in controlling inflation through central banks. Discussion of trade barriers and price controls is also presented.

A conference paper discussing the cost of the Marshall Plan to the U.S. is presented. The author notes the estimates given by the Committee on European Economic Cooperation (CEEC) for the Economic Recovery Program, which claim that the cost to the U.S. would be $22.4 billion. The author expresses concern that this estimate may be low. The author considers income and payments for European recovery, the Marshall Plan and inflation, inflation and commodity markets, and U.S. budgetary problems.

In asking the question, "what can Europe do for itself?" in recovering and rebuilding after World War II, the article presents a conference paper that addresses information from the "General Report of the Committee of European Economic Cooperation." The author summarizes the European position into one: increase production. The author considers whether the goals outlined are attainable and what that will mean, discussing food, coal, electrical power, oil refinement, and steel production.

This article focuses on the comparative content analysis of the Arabic press. The purpose of this analysis was to determine the extent to which the reading publics in various Arab countries are being exposed to news of international events. Secondly, the kind of information the press is transmitting and the relative attention it is paying to events involving different countries of Europe, Asia and Africa. Lastly, the favorable or unfavorable images of these other countries that this information is likely to convey to the readers. The content analysis was carried out in two phases. The first concerned the content of the entire newspaper. In this phase, printed space was measured and multiplied by the average number of pages per issue to obtain base totals for each prestige paper. The second phase of the analysis was confined to the first page only. Items appearing on this page were classified in greater detail. In the study it was found that, despite the small size of many Arabic newspapers, papers, internationally significant news, as opposed to news of local or regional reference, absorbs a surprisingly high percentage of total space. Objective changes in the world power situation and in the nature of Arab-Western interaction have not succeeded in suppressing the Arab's preoccupation with external affairs.

The article presents a discussion related to business cycle written by Milton Gilbert and a reference to the paper written on the same topic by Jacques J. Polak and Rudolf R. Rhomberg. Europe has had only two recessions since the war, one in 1952 and one in 1958, contrasted with the four that the U.S. has had. The 1952 recession was due mainly to restraints exercised by the policy-making authorities for the purpose of correcting balance-of-payments difficulties, although the reaction from the Korean boom was also a factor, it was secondary. The 1958 recession was also due to policy restraints exerted during the three years from 1955 to 1957. These restraints were applied mostly to correct excess demand, overfull employment, and inflationary pressures, although balance-of-payments difficulties were a factor in some or most cases. Thus the only recessions resulted from policy measures, taken deliberately. The recessions also were ended by policy management. Restraints were relaxed when the authorities considered that expansion could be safely resumed. And it did resume.

The paper reviews research findings from various European countries (including the author's own studies in Vienna) on intergenerational relations between parents and their grown-up children. Numerous data disprove certain important features of the classical theory of the isolated nuclear family in industrialized and urbanized society. Although, according to newer data, joint living is a minority pattern, effective interaction (economic support, help in both ways and mutual visiting) is frequent and emotionally important particularly to the elderly. ‘Intimacy—but at a distance—corresponds to wishes of both generations. A special section of the paper is dedicated to propositions for theoretical innovation in the problem area studied including, e.g., a criticism of role theory, a criticism of statements on family cohesion based on findings of help patterns only. The paper postulates an amalgamation of major aspects of social gerontology with a sociology of the family cycle. [ABSTRACT FROM AUTHOR]

The article highlights the Conference of University Professors on the use of monetary and fiscal policy held in Europe in 1968. Attendees of the conference examined the integration of European capital markets and plans to develop papers on the theoretical issues involved in the introduction of money into models of economic growth. The fourth session of the conference examined abstractions and realities of monetary theory. The article also presents a description of several papers presented at the conference.

The volume of literature on the credit-creating powers of the Euro-dollar market, although small, is growing. This paper contends that the stock of net Euro-dollar deposits (E[sub n]) can be expressed as the product of a Euro-dollar base (B) and a Euro-dollar multiplier (k). As in domestic models, the terms of the multiplier reflect asset choices of the sectors reflected by them. A parallel between the flow of funds within the Euro-dollar market and most domestic banking systems exists. Except that no single institution serves as a Euro-dollar central bank, the two systems are highly comparable. [ABSTRACT FROM AUTHOR]

The general absence of legal reserve requirements upon the reserves of non-U.S. banks offering dollar-denominated deposit facilities (hereafter Eurobanks) provides a unique opportunity for analysis of reserve determination by a fractional-reserve financial intermediary. This paper presents evidence that the reserve ratio in the Euro-dollar system is low and falling and is in fact determined by behavior which is consistent with the hypothesis that Euro-bank dollar deposits in U.S. commercial banks (excluding loans to home offices) are held as precautionary reserves. The demand for such loans to home offices largely determines their level. Since the theory of precautionary balances held by commercial banks is consistent only with the profit maximization principle of commercial banks' asset management, where commercial banks' responses to market forces determines portfolio behavior, we shall be concerned here primarily with the determination of Euro-banks demand deposit claims on U.S. commercial banks, exclusive of loans to home offices. Evidence reported below does in fact suggest that the behavior of liabilities to foreign branches of U.S. banks is not consistent with the profit maximization principle. [ABSTRACT FROM AUTHOR]

The article expands upon the results derived in a paper by Patric Hendershott, "The Structure of International Interest Rates: The U.S. Treasury Bill Rate and the Eurodollar Deposit Rate," which appeared in the September, 1967 edition of the "Journal of Finance." In that paper Hendershott contended that the equilibrium Eurodollar rate is determined primarily by the three-month U.S. Treasury bill rate. The author of the current paper extends Hendershott's work by examining the impact on the Eurodollar rate of both foreign and short-term U.S. rates. His results are in agreement with Hendershott's.

The article comments on the papers "The Changing Role of U.S. Banks in International Financing," by George H. Chittenden, "The International Money Market: Structure, Scope and Instruments," by Fred H. Klopstock, and "The Integration of European Capital Markets," by Oscar L. Altman, all published within the issue. The author looks at changes occurring in European capital markets, international money markets, and commercial bank lending. The shortage of international liquidity is discussed. The author feels that broadened exchange controls among major countries are not as effective as simply remaining solvent.

This paper is concerned with an analysis of similarities and differences in the organization structure of multinational corporations based in the United States and four European countries. The empirical investigation focused on companies operating under similar contextual constraints. Five dimensions of structural characteristics were examined: (1) basic organizational orientation, (2) structure of the relationships between the corporate headquarters and its foreign operating units, (3) the degree of centralization/decentralization, (4) the standardization of procedures, and (5) organizational flexibility. The results of the survey reveal certain similarities, but they also reveal significant variations in the organization structure of multinational firms of different national origin. [ABSTRACT FROM AUTHOR]

This paper has a number of important objectives in the field of plant and company industrial relations, its primary focus being an examination of the German labor-management relationship as regulated by the 1952 and the recent 1972 Works Constitution Acts.[1] These Acts provide for the establishment and operation of a system of Works and Company Councils, and although the 1972 Act has largely replaced its predecessor, the provisions of the 1952 Act regulating the Supervisory Board system outside the coal, and the iron and steel industries still remain. This system of Supervisory Boards and the Works and Company Councils represent the most important cornerstones of worker participation in German industry. The possible extension of the Supervisory Board and European Works Council system across the European Economic Community could raise weighty political and industrial relations issues for Britain.
This paper considers the legislative provisions regarding the rights and powers of Works and Company Councils, including the co-decision-making rights in manpower and personnel policy, rights to effective consultation over production changes, the economic viability of the firm, intended changes in the organization, type, and location of the firm's productive activity, and labor's rights to involvement in the efficient running of the plant. The paper also considers the Economic Committee at company level, the role of the trade union in plant industrial relations affairs, an analysis of how the provisions of the 1952 Act have operated in practice and the likely effects of the 1972 Act on labor and management. An attempt will be made to draw relevant implications for the British industrial relations system with particular emphasis on the role of the shop steward: the purpose of such a comparison is to evaluate the possible benefits the British system of labor-management relations could derive from a formalization along German lines. [ABSTRACT FROM AUTHOR]

A conference paper about the Asian influence in Europe is presented. It talks about the Tartar influence in European Russia. The author discusses his travels through Russia and the crossing of the Caucasus Mountains into Europe. Subjects of the paper also include tribes of Jews in the mountains, the Armenian Plain, and Tartar mill-work.

The article presents information about bibliographies, periodicals giving news items and special reports in regard to the readjustment and reconstruction of the economic life of the countries of Europe. Some of the bibliographies are, "Reconstruction: A Preliminary Bibliography," compiled by Laura A. Thompson, "List of References on Reconstruction," prepared by Mrs. V. B. Turner, and is to be found in the December, 1918, issue of the journal "Monthly Labor Review." The Library of Congress published in November, 1918, "A List of British Parliamentary Publications on Reconstruction, With Some Other Publications." The Council of National Defense has prepared a "Bibliography on Reconstruction: British Parliamentary Papers and Selected Publications on Reconstruction." A very useful summary of news is contained in the "Daily Digest of Reconstruction News", published by the Director's Office of the Council of National Defense, Washington. It gives important facts about the work of the departments of the federal government in the field of reconstruction, actions of the state and municipal governments, and of foreign governments.

This article discusses several papers related to economic history of Italy, published in the several journals. In a short paper "La Polonia medievale tra occidente ed oriente europeo," by A. Giesztor, the author examines economic conditions of central Europe, particularly of Poland about A.D. 1000, with particular reference to agriculture. The author decides that Polish agriculture was well adapted for a variety of crops. The paper "La structure economique et sociale de I'etat de I'ordre teutonique en Prusse," sets out to analyse the role that the Teutonic Order had in the life of Prussia. With an indubitable political function the Order showed also its efficiency in the economic sector, revitalizing internal and external commerce to a degree, which the author describes as exceptional. In 1454 the insurrection put an end to its regime in most of the country. B. Geremek deals with the problem of the origins of pauperism in an essay "La popolazione marginale tra ii medioevo e I'eta moderna'." As is evident from the title, the author believes that the problem of pauperism was born in the period of the transformation of society that occurred at the beginning of the modern era.

This article presents information on several papers and memorandums related to economic conditions in various countries. The Parliamentary documents for 1886 will contain a good deal of evidence of the increasing uneasiness as to the condition and prospects of the foreign trade of England. A Blue Book has been issued, giving the rates of duty levied on imports by the different European countries and the United States; and a second is to give the duties levied by the British colonies, these returns being on the plan of the similar documents published in 1882. The Commission on the Depression of Trade have also collected and published reports from the English consuls, showing the impediments to British trade in the different countries. Another snippet reports that the opening of fertile wheat lands in the United States, and the cheap transportation of grain to Europe have had an influence not only on England and Ireland, but on France, Germany, and Russia. French and German legislation has been invoked to protect the farmer. But now an interesting movement is in progress among the Russian peasants, by which the former serfs are becoming separated from the land. At the time of the emancipation of the serfs, Russia controlled the wheat markets of Western Europe; while the prices of agricultural products were high, and even rising.

Cultural traits from China have been slowly entering Europe for more than two thousand years. Some of these, such as gunpowder, the compass and paper have been of outstanding importance while others have created but passing fads. It is impossible to identify all of the influences of Chinese origin which have entered European culture during this long period. Even in the case of clearly recognized Chinese traits the records are inadequate as to many of the details of their westward journey. Despite the incompleteness of our knowledge, a brief survey of the existing in formation throws light on some aspects of European cultural history and on some of the mechanisms of diffusion. There were four main periods of contact between China and the West. The first was the era of silk trade with Rome and the ancient Mediterranean world which lasted from the first century B.C. to the middle of the sixth century A.D. The rise of the Arab Empire in the seventh century began a long period of relations between China and the Near East in which the Moslem world acted partially as a barrier but also as an intermediary between China and Europe. The Mongol Empire of the thirteenth and fourteenth centuries made possible brief direct contacts of Europe with China. Modem relations of China and the West began with the Age of Discoveries in the sixteenth century.

The progress of European recovery has been anything but steady since the winter of 1946-1947. It moved forward rapidly in 1948 and the very beginning of 1949, but the U.S. recession in the summer of 1949 set Europe back sharply. Indexes of production were stagnant or declining in most of Europe during that summer. It looked as if what was originally conceived as a largely physical task of expanding agricultural and industrial production had already, at a much earlier stage than anticipated, encountered the problem of inadequate markets for the output that could be produced. The setback was climaxed by the devaluation of sterling in September and devaluations of practically all other European currencies that followed immediately in its wake. This paper is concerned with the economic state of Europe now and in the near future, it contains certain views which may have a wider application in time and in space. It is written in the belief that there are lessons to be learned from current European experience which have quite general significance for economic policy, public and private, here as well as in Europe. As the title of this paper suggests, it is intended as an essay in political economy rather than in pure economics or economic theory.

This paper is based on current studies within the O.E.C.D. Directorate for Scientific Affairs on problems of educational development. More particularly, the data used in this paper derive from a more general study of problems posed by the expansion of secondary education in O.E.C.D. countries, which will be completed by the Organisation in the near future. The views expressed in the paper are those of the authors. The paper was originally presented at the Ghent Meeting of the Comparative Education Society. [ABSTRACT FROM AUTHOR]

The article focuses on the sixth general conference of the Comparative Education Society in Europe, which was held in Italy on June 4 to 9, 1973. The theme of the event was "Recurrent Education. Some working papers discussed include the following: survey of recurrent education's position and prospects; strategies of recurrent education; technological aids to comparative studies of universities and implications of recurrent education for upper-secondary education. Some speakers were Denis Kallen, R.L. Plancke, Giuliana Limiti and Sixten Marklund.

The article provides management science related news from Europe. British members of The Institute of Management Science should note that application has been made to the Chief Inspector of Taxes for full exemption of membership dues as a tax deductible item. A symposium on simulation will be held at Brunel College on May 10-11, 1966. Symposium details are presented. An operations research conference is scheduled for April 12-14, 1966 at the University of Lancaster.

A conference paper about the biological control of Chondrilla juncea is presented. It presents the results of the detailed ecological study being made on C. juncea and the organisms attacking it in Mediterranean Europe, as a prelude to biological control introductions into Australia. Using a line transect method at the dense Chondrilla sites between Barcelona, Spain and Nice, France, observations have shown that the plant populations decline to a greater or lesser extent according to conditions.

This article suggests possible remedies to deal with European financial crisis. Taxes must be greatly increased and public expenditures greatly diminished so that current revenues will not only meet prevailing expenditures but also suffice to permit some amortization of public debt. In Great Britain a restoration of the old gold parity should be looked for. There must be a rational economic settlement of the German reparations question, based on a dispassionate economic analysis of Germany's ability to pay. Industry in Europe must revive. It can be made to revive, however, if the reforms above indicated are accomplished, and if outside help in the form of new capital is obtained. Measures designed to help the exchange problem may properly be made part, however, of the more comprehensive settlement above outlined. A comprehensive settlement might be worked out in the form of a compact between the governments of Great Britain and the United States, together with the bankers of Great Britain, the United States, and Japan as the party of the first part, and the former Continental belligerents as the party of the second part. Part of the proceeds of the new loans made by the United States might well take the form of gold to increase the reserves of the authorities in Europe issuing paper money (chiefly central banks), so as to facilitate their resumption of actual specie payments.

The author discusses the article "A Theoretical and Empirical Analysis of the Eurodollar Market," by Georg Rich. The author's comments are directed primarily to some issues raised in Rich's theoretical and empirical analysis of the Eurodollar market. The author found that the most interesting portion of Rich's paper are his empirical results. The author asserts that the Rich's data should not have a logical contradiction between approximate interest parity and a relative low elasticity of the covered arbitrage schedule, also known as relatively low capital mobility.

Declines in private housing production during periods of credit restraint have been widely publicized in the United States. Four such downturns have been recorded in the past decade and a half--in 1955-57, 1959-60, 1965-66, and 1969-70. A variety of measures have been adopted or recommended during recent years in an effort to lessen the disproportionately heavy impact of credit restraint on the private housing sector. Other measures have been offered to minimize the need for, or reliance on, credit restraint. Credit-affected downturns in private housing starts or residential building permits, however, are far from endemic to the United States alone. They have taken place since the mid-1950's in Canada and certain West European countries as well. Canada has recorded four cases; Belgium and Switzerland each has had three, Germany and Great Britain two each, and Italy one. In most if not all of these cases, private residential construction has been affected more severely by credit restraint than other major branches of the economy. Omitted from discussion are still other cases, as in Sweden and France, where the scope of public involvement in the housing sector has minimized the analytical significance of "private" housing production. [ABSTRACT FROM AUTHOR]

The article compares the varying accounting methods of Europe and the U.S. There has been a more definite effort in European countries to regulate accounting practice through direct legislation than in the U.S. However, leading corporations in the U.S. have financial statements that are clearer and more orderly than those of corporations in Europe despite a lack in regulatory legislation for accounting practices. The U.S. is making progress in regulating accounting practice with the regulations prescribed by the Interstate Commerce Commission.

The article presents a comparison of the United States and European wages, costs and productivity and explains how and when it can be profitable for a U.S.-based business to manufacture abroad, and often it may be more profitable to manufacture at home. Several newspaper articles referencing the low wages paid to European workers and their rapidly rising productive efficiency are cited as examples indicating that the United States may be pricing itself out of competitive markets. Comparisons of industrial costs for United States and foreign businesses are made, including comparisons of wage levels, labor costs, and productivity.

Starting with the concept of "middleman minorities" developed by Blalock (1967 79-84), encompassing such groups as the Chinese in Southeast Asia, Jews in Europe, and Indians in East Africa, this paper presents a model which tries to explain the development and persistence of the form. A key variable is the orientation of immigrants towards their place of residence, with sojourning at first, and later a "stranger" orientation affecting the solidarity and economic activity of the ethnic grout. These in turn arouse the hostility of the host society, which perpetuates a reluctance to assimilate completely, or "stranger" status. [ABSTRACT FROM AUTHOR]

Christians from Middle Eastern European nations have been less inclined than Muslims to identify with Arab nationalist causes, but a growth of Arab identity has been observed among Middle Eastern Christian immigrants in recent years. Recent immigrants are more likely to identify with Arab nationalism than immigrants who have been in the United States for some time. This paper analyzes religious and nationalist identity in a Chaldean Iraqi community in Detroit, Michigan. It rejects the notion that the earlier immigrants' nationalist sentiments have been "lost" through assimilation, and suggests that the increased nationalist identity, of recent immigrants is due in, part to a, increase in urbanism and bureaucratic participation in the modern Middle East. [ABSTRACT FROM AUTHOR]

The article focuses on regional economic development in American and European continent. The questions of social justice in the distributions of the fruits of economic progress are as important and as difficult in terms of regions as in terms of social classes. The question of whether or not the federal government ought to influence the location of economic activity has long been bypassed by government participation in our mixed economy on a scale, which inevitably has important regional consequences. It is undoubtedly in recognition of this phenomenon that important efforts already have been made to give the government a creative role in the solution of regional problems. Nevertheless, these efforts are not yet commensurate with the difficulties posed by lagging regions and congested metropolitan areas. This paper has proposed a number of operationally feasible approaches to the tasks, which remain in the quest for optimal spatial resource allocation from a social point of view. While they do not pretend to indicate final solutions, they are at least conceived on a scale consistent with the issues involved.

There are two ways of approaching this question of revisions of European debt settlements. One is by an appeal to historical, legal, sentimental, and certain long-run economic considerations, the method that has been followed in the two papers preceding this. The other is to examine the drift of events which may conceivably have much to do with settling the argument. It is possible that the matter may be taken out of our hands, so to speak, and that new adjustments may occur while one is still debating. One will be remembered that in May 1921, claims against Germany were finally set at some 132 milliards of gold marks, including A, B and C bonds, and that attempts were made to collect 5 per cent interest plus 1 per cent sinking fund charges on the A and B bonds or a total of three milliards of marks per year. Against this effort disinterested economists everywhere protested. The Ruhr invasion and the collapse of Germany bear witness to the folly of demanding the impossible. Today the discussion rages around the possibility of collecting only 2.5 milliards per year which is a 6 per cent return on only 41,666,000,000 marks.

This article focuses on the major features in the European economic situation after the World War I, the land area in Europe is practically unchanged and the fertility of the soil has apparently not been greatly reduced. The devasted areas, quantitatively insignificant, have in large mea- sure already been restored. With labor, the problem is not quite so simple. In certain countries the population has been appreciably reduced, particularly that portion of the population which is at the most productive age. With plant and equipment (capital goods), the problem is, of course, much more difficult. Undoubtedly Europe is considerably short of the supply of capital goods that would have existed had the war not occurred. France has rebuilt a large portion of the destroyed areas, and, in the process, indirectly stimulated construction and related industries by continuing to run art annual government deficit of from twenty-five to thirty billions of francs. No one can deny that Great Britain's production and trade figures would have been much larger if the army of unemployed had been set to work at public expense building houses, factories, roads, etc.

The article comments on the paper "An Economic Theory of the Growth of the Western World," by professors Douglas C. North and Robert Paul Thomas. The paper is related to European economic growth. The theory proposed by North and Thomas relies heavily upon three components. The first is a model for cyclical fluctuations in the pre-industrial economic life of Europe. This model defines the relative changes in the cost of land and labor as changes in population alter the ratio between the two. It incorporates the relative elasticities which have been found in the supply and demand curves for foodstuffs as opposed to those for raw materials and industrial products. North and Thomas then elaborate this last observation into the second major element of their model, a "theory of institutional change." The shifts in factor proportions so heightened the possibilities of profit from production for the market that they exceeded the costs of the institutional innovations needed to change the organization of production and distribution of income. The result was the steady introduction of "secondary" institutional changes such as enclosures, joint-stock companies, government support of certain guilds, and regulation of quality.

This article presents a list of papers related to economic history of Europe. Some of the papers are: "An early Garolingian Mint in the Low Gountries: Bona-Tiel," by M. Metcalf; "Financial Intermediaries and Economic Development, the Belgian Case," by R.J. Morrison; "Middeleeuwse sociale structuren. Enkele kanttekeningen,"by J. Mertems; "Dutch Theology, Trade and War: 1590-1610," by C. Bangs; and others.

In the course of European industrialization ideologies of management have become concerned increasingly with the attitudes of workers. The managerial appeals of Anglo-American and of Russian civilization have differed, however, in terms of whether or not they presuppose the possibility of self-reliance and good faith. The study of such ideologies provides a clue to the changing class relations of industrial societies and, therefore, suggests that the analysis of cultural data is an important dimension of sociological research. To illustrate this point the paper shows how the basic difference between the managerial ideologies in England and Russia may be related to structural differences in bureaucratization. [ABSTRACT FROM AUTHOR]

This article presents information on the book "Monopoly and Competition and Their Regulation. Papers and Proceedings of a Conference held by the International Economic Association," edited by E.H. Chamberlin. Monopoly and competition have been a widely discussed topic among economists. The eight articles in this book that describe the state of competition in eight different countries in Europe and the U.S. are as different as is the statistical information available in these countries. The book contains a statement of the issues involved, accounts of the empirical information available, appraisals of various attempts to deal with the monopoly problem, and restatements of most of the important approaches and ideas in the field. It is not surprising that several of the articles condemn competition, both as a form of market organization and as a theoretical standard to judge the performance of an economy. The difference between American and European efficiency is mostly due to a difference in technological efficiency. Efficiency is relevant to many contemporary economic problems, among them the problem of economic growth.

This article presents a discussion on the research paper "Economic Integration in the European Soviet Bloc," by Edward Ames, professor at Purdue University, Indiana, published in the May 1959 issue of the journal "American Economic Review." The term "integration" has been used rather abusively in relation to the area, and any systematic effort toward its definition needs to be welcomed heartily. After sketching briefly the pattern of international economic relations in the bloc, Ames advances two sets of standards against which he attempts to measure the integration achieved in the area. In his first solution, he refers specifically to market economies. In that framework, he equates integration to optimal distribution of goods within an area which amounts to the reaching of a single price for the same goods with differences in prices due only to transportation costs in a market which comprises either the whole globe or only a group of countries. This optimal distribution subsumes optimal utilization of factors even though the latter might not move freely. Integration thus requires that all or most goods be traded within the area. The movement toward or away from integration will be indicated for the given group of countries by the movement of their internal price structures toward similar or dissimilar patterns.

Following the restrictive phase of transportation regulation induced by the depression, with its limitations on entry and on competitive pricing, the interest in transport regulation has now swung somewhat in the other direction. It is the purpose of this paper to indicate how some of the same problems have been handled in other countries. For the problem raised by new technologies in transport, upsetting the old railway monopoly, is almost universal. While technological progress in the U.S. has been outstanding, U.S. institutions have maintained an ambivalent attitude. Some continental countries have shown flexibility in adapting their attitudes and institutions to the changed situation. European practice may contain useful lessons for people in the U.S. The standard solution to the problem of growing competition which new technologies present to traditional transport, adopted in the United States and many other countries, has been to impose restrictive handicaps on the new technologies. In the United States, the certificate of public convenience and necessity has been used to restrict the entry of new management into transportation.

Political and economic factors and considerations are inseparably intertwined in the European Recovery Program. The basic objectives are economic as well as political. Moreover, it is obvious that not only calculations of economic efficiency but also considerations concerning political and psychological reactions, both at home and abroad, profoundly influence the choice of methods of aid, decisions about the magnitude of the programs, the language used in outlining the plan and the emphasis placed on various aspects of the problems. In the present paper I confine myself, naturally, to the economics of the program, but occasional remarks about political factors and considerations cannot be avoided. The preparation of the program has been very thorough and the documentation is rich and of high quality. Apart from legal, administrative, business, and technical experts, an impressive array of economic luminaries have been engaged in all stages of the preparation of the plan. As a consequence, the general economist who has no inside information and whose knowledge is entirely derived from published material cannot possibly contribute much except on some rather broad though important issues. [ABSTRACT FROM AUTHOR]

Most writers on mercantilism have neglected Portugal, and its colonial policy has attracted surprisingly little research. The destruction of a large mass of colonial papers in the Torte do Tombo Archives by the earthquake and ensuing fire on November 1, 1755, and the silence of the early chroniclers on such prosaic matters as trade and navigation have deterred many scholars interested in the Portuguese colonial system and seriously handicapped those who have persevered. Consequently, inadequate knowledge may explain the tendency to dismiss the Portuguese empire with the derogatory conclusions that it consisted only of a chain of forts and trading stations, developed no new institutions, set no important precedents, and made no significant contributions to colonial theory. Although precise information and many details are lacking, it is known that Portugal discovered the all-water route to the East Indies, established the first contacts with the natives, forged a colossal empire, exclusively controlled the East India trade for almost a century, solved a host of problems before any rival appeared on the scene, and smoothed the paths of Holland, England, and France to trade and empire in the East.

This paper attempts to analyze results, techniques and lessons of these monetary reform measures in liberated Europe against the background of the monetary and financial situation in the countries concerned. Since the autumn of 1944 a large number of European countries, with a view to controlling the monetary and financial legacy of war and occupation, have embarked upon monetary reform experiments of great interest to the student of monetary theory and practice. Broad objectives of most of these post-war monetary reform schemes have been to exert a restraining influence on the public's expenditures, to force people to seek employment by making them dependent on current income instead of past savings and to deprive public of funds with which to purchase in black markets. In some countries, the conversion of currency has been chiefly an instrument for the detection of concealed wealth held in monetary form and of income tax evasion during the war period. An incidental purpose of the reform measures has been to ascertain and cancel the amount of notes held by the enemy and lost or destroyed in the course of the war. Unification of the currency has been another, though never the sole, objective in countries where a multitude of currencies have been introduced during the war.

Malthusian theories are not an exclusive intellectual discovery of European writers. They have occurred elsewhere, in period of rapid population increase. In this paper, a Chinese example is analysed and the relevant essays translated. The essays were written at the same time that Malthus published his ideas and contain most of Ii is philosophical notions but are not supported by any statistical evidence. Unlike those of Malthus in Europe they did not evoke any controversy in China, although their author was well known as a man of letters and close to the central authority. Today, of course, Malthusianism is a subject much discussed in China. [ABSTRACT FROM AUTHOR]

In the immediate post-war period, the government of the United Kingdom took steps to augment the labour force in certain undermanned industries by sponsoring the immigration of a number of displaced persons from the Continent of Europe. In this paper the author describes the background and working of some of these schemes, and indicates the reaction of British workers, and of the displaced persons themselves to this planned migration. [ABSTRACT FROM AUTHOR]