chapter  81
4 Pages

THE WORLD ECONOMY

The configuration of world economy shows the lack of unity in the fact that there is no capital city of world economy. Similarly there is no thorough-going localization of acquisitive centers from the point of view of world economy. The international division of labor has lagged behind the national one. For a long time after a national community of acquisition had been developed in the more advanced states, the exchanges between countries were confined to " parting with the superfluous in order to gain the indispensable.'' Whatever domestic products existed in excess of an effective domestic demand were surrendered for foreign products that could be used but were of a variety that could not be turned out at home.