ABSTRACT
INTERNATIONAL trade, like every other economic institution, has its immediately practical and its more or less ideal aspect ; and the consideration of both is necessary. In dealing with Collectivism we must discuss not only fundamental ethicoeconomic principles, but the manner of their application. This involves construction of the system that is the natural and logical outcome of these principles, that is to say, the ideal; it also involves consideration of the best way of realizing this ideal, consideration of the movements towards it that can be made immediately, that is to say, the practical. The discussion of the ideal is generally sneered at as " academic ", but the ideal must never be lost sight of, for it is what we have to aim at realizing. We have, therefore, to consider international trade in its ideal form as well as in its evolutionary process from the present capitalistic position.
