First Sentence:
The aim of this book is to expound, review, and develop the normative theory of trade policy.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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optimum export tax, marginal divergence, subsidy disbursement costs, income distribution distortion, optimum tariff structure, taxing foreign capital, domestic divergences, conservative social welfare function, nontrade taxes, dynamic internal economies, optimum tariff rate, static real income, foreign demand curve, internal dynamic economies, private dumping, production divergence, import supply curve, import supply elasticity, trade divergence, whole domestic market, transborder externalities, pecuniary external economies, market mechanism role, effective protective rate, foreign elasticity
Key Phrases - Capitalized Phrases (CAPs):
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United States, European Community, John Stuart Mill, Hong Kong, European Union, Uruguay Round, Adam Smith, Stolper Samuelson, World Trade Organization, Corn Laws, Friedrich List, Latin American, World War
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