This book focuses on the normative side of trade theory and is divided into five parts:
* trade under perfect competition;
* restricted trade under perfect competition;
* trade under imperfect competition and other distortions;
* Compensation: lumpsum, non-lumpsum or neither?
* International trade

When can a country be said to benefit from free trade?
This question has obsessed economists for more than 200 years, and a definitive answer has never been provided. Continuing the influential work begun in The Gains from Trade and the Gains from Aid, (Routledge 1995), Murray Kemp here presents the recent progress he and his co-workers have made in tackling this important question.

Murray C. Kemp is one of Australia's foremost economists. He has held positions across the world including London School of Economics, U.C. Berkeley, Columbia University, McGill University, MIT, and latterly Macquarie University. Kemp was a Member of Council for the Econometric Society and was a Distinguished Fellow of the Economics Society of Australia. He has served as President of the International Economics and Finance Society. In 1987 he was awarded the Humboldt Foundation Prize.

This book brings together several essays on the current state of the theory of international trade....

This book focuses on the normative side of trade theory and is divided into five parts:
* trade under perfect competition;
* restricted trade under perfect competition;
* trade under imperfect competition and other distortions;
* Compensation: lumpsum, non-lumpsum or neither?
* International trade