TRADE AND WELLBEING

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TRADE AND WELL-BEING
Non-empirical Observations
Bryson, Marriott School
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PART I Observation from Scripture
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Trade Cycles in the Book of Mormon

• THE BOOK OF HELAMAN CHAPTER 6, from the chapter
  heading.
• The righteous Lamanites preach to the wicked
  Nephites. Both peoples prosper during an era of
  peace and plenty. Between 29 and 24 B.C.

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Trade Cycles in the Book of Mormon

• 1 AND it came to pass that when the sixty and
  second year of the reign of the judges had ended,
  all these things had happened and the Lamanites
  had become, the more part of them, a righteous
  people, insomuch that their righteousness did
  exceed that of the Nephites, because of their
  firmness and their steadiness in the faith.

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Trade Cycles in the Book of Mormon

• 6 And it came to pass that many of the Lamanites
  did go into the land northward and also Nephi
  and Lehi went into the land northward, to preach
  unto the people. And thus ended the sixty and
  third year.

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Trade Cycles in the Book of Mormon

• 7 And behold, there was peace in all the land,
  insomuch that the Nephites did go into whatsoever
  part of the land they would, whether among the
  Nephites or the Lamanites.

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Trade Cycles in the Book of Mormon

• 8 And it came to pass that the Lamanites did
  also go whithersoever they would, whether it were
  among the Lamanites or among the Nephites and
  thus they did have free intercourse one with
  another, to buy and to sell, and to get gain,
  according to their desire.

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Trade Cycles in the Book of Mormon

• 9 And it came to pass that they became
  exceedingly rich, both the Lamanites and the
  Nephites and they did have an exceeding plenty
  of gold, and of silver, and of all manner of
  precious metals, both in the land south and in
  the land north.

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Trade Cycles in the Book of Mormon

• 10 Now the land south was called Lehi and the
  land north was called Mulek, which was after the
  son of Zedekiah for the Lord did bring Mulek
  into the land north, and Lehi into the land
  south.

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Trade Cycles in the Book of Mormon

• 11 And behold, there was all manner of gold in
  both these lands, and of silver, and of precious
  ore of every kind and there were also curious
  workmen, who did work all kinds of ore and did
  refine it and thus they did become rich.

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Trade Cycles in the Book of Mormon

• 13 Behold their women did toil and spin, and did
  make all manner of cloth, of fine-twined linen
  and cloth of every kind, to clothe their
  nakedness. And thus the sixty and fourth year did
  pass away in peace.

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Trade Cycles in the Book of Mormon

• 15 And it came to pass that in the sixty and
  sixth year of the reign of the judges, behold,
  Cezoram was murdered by an unknown hand as he sat
  upon the judgment-seat. And it came to pass that
  in the same year, that his son, who had been
  appointed by the people in his stead, was also
  murdered. And thus ended the sixty and sixth year.

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Trade Cycles in the Book of Mormon

• 16 And in the commencement of the sixty and
  seventh year the people began to grow exceedingly
  wicked again.

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Trade Cycles in the Book of Mormon

• 17 For behold, the Lord had blessed them so long
  with the riches of the world that they had not
  been stirred up to anger, to wars, nor to
  bloodshed therefore they began to set their
  hearts upon their riches yea, they began to seek
  to get gain that they might be lifted up one
  above another therefore they began to commit
  secret murders, and to rob and to plunder, that
  they might get gain.

15
Emer, Coriantum, and Com

• Ether 914. And it came to pass that Omer began
  to be old nevertheless, in his old age he begat
  Emer and he anointed Emer to be king to reign in
  his stead.15. And after that he had anointed
  Emer to be king he saw peace in the land for the
  space of two years, and he died, having seen
  exceedingly many days, which were full of sorrow.
  And it came to pass that Emer did reign in his
  stead, and did fill the steps of his father.

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Emer, Coriantum, and Com

• 16 Andthe house of Emer did prosper exceedingly
  under the reign of Emer and in the space of
  sixty and two years they had become exceedingly
  strong, insomuch that they became exceedingly
  rich

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Emer, Coriantum, and Com

• 17. Having all manner of fruit, and of grain, and
  of silks, and of fine linen, and of gold, and of
  silver, and of precious things
• 18. And also all manner of cattle, of oxen, and
  cows, and of sheep, and of swine, and of goats,
  and also many other kinds of animals which were
  useful for the food of man.

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Emer, Coriantum, and Com

• 21. And Emer did execute judgment in
  righteousness all his days, and he begat many
  sons and daughters and he begat Coriantum, and
  he anointed Coriantum to reign in his stead.

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Emer, Coriantum, and Com

• 23. And it came to pass that Coriantum did walk
  in the steps of his father, and did build many
  mighty cities, and did administer that which was
  good unto his people in all his days. And it came
  to pass that he had no children even until he was
  exceedingly old.

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Emer, Coriantum, and Com

• 25. And it came to pass that he begat Com, and
  Com reigned in his stead and he reigned forty
  and nine years, and he begat Heth and he also
  begat other sons and daughters.

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Trade Cycles in the Book of MormonEther, Chapter
10

• 19. And it came to pass that Lib also did that
  which was good in the sight of the Lord. 20. And
  they built a great city by the narrow neck of
  land, by the place where the sea divides the
  land. 22. And they were exceedingly industrious,
  and they did buy and sell and traffic one with
  another, that they might get gain.

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Trade Cycles in the Book of MormonEther, Chapter
10

• 23. And they did work in all manner of ore, and
  they did make gold, and silver, and iron, and
  brass, and all manner of metals and they did dig
  it out of the earth wherefore, they did cast up
  mighty heaps of earth to get ore, of gold, and of
  silver, and of iron, and of copper. And they did
  work all manner of fine work.

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Trade Cycles in the Book of MormonEther, Chapter
10

• 25. And they did make all manner of tools to till
  the earth, both to plow and to sow, to reap and
  to hoe, and also to thrash. 27. And they did
  make all manner of weapons of war. And they did
  work all manner of work of exceedingly curious
  workmanship.

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Trade Cycles in the Book of MormonEther, Chapter
10

• 28. And never could be a people more blessed than
  were they, and more prospered by the hand of the
  Lord. And they were in a land that was choice
  above all lands, for the Lord had spoken it.29.
  And it came to pass that Lib did live many years,
  and begat sons and daughters and he also begat
  Hearthom.

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Trade Cycles in the Book of MormonEther, Chapter
10

• 31. And he begat Heth, and Heth lived in
  captivity all his days. And Heth begat Aaron, and
  Aaron dwelt in captivity all his days and he
  begat Amnigaddah, and Amnigaddah also dwelt in
  captivity all his days and he begat Coriantum,
  and Coriantum dwelt in captivity all his days
  and he begat Com.
• (By the time we get to Com, all of the Jaredites
  had become wicked. PJB)

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• PART II
• OBSERVATIONS FROM THE SOVIET ERA

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The Embargo

• In the period directly after the 1917 revolution,
  the western nations embargoed the hostile Soviets
  and aided the White faction financially to
  promote a counter-revolution against the Red
  faction while Lenin consolidated power.

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The Embargo

• The Soviets were in abysmal conditions
  financially, but they neither wanted nor sought
  outside assistance.
• To be dependent on hostile capitalists for trade
  or aid had no appeal.

29
Rediscovering Ricardo

• Through the regimes of Stalin and into the
  Khruschev era, the only cooperation enjoyed by
  the Soviets was with the CEMA states of the
  Soviet Bloc.
• As plan failure began to be apparent, it
  occurred to the Soviets that they could greatly
  benefit by participating in international trade.
  They invited western businessmen to invest.

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Rediscovering Ricardo

• It was already basically too late.
• Planning problems meant that the quality of most
  Soviet products was not adequate for western
  markets.
• Planning rigidities meant that after the
  publication of the annual and five-year plans,
  all prospective production was committed to the
  domestic plan and to the socialist brother
  countries of CMEA.

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Soviet Isolation from World Markets

• Lacking competitive interaction with world
  markets, the planned economy could not benefit
  from the healthy stimulus of competition.

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PART III

• OBSERVATIONS FROM THE EEC

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From the ECSC Onward

• When France, Germany, Italy, and the Benelux
  Countries decided to begin an integration
  experiment, countries around the periphery of
  central Europe watched with interest.

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From the ECSC Onward

• But not with excessive interest.
• They were unwilling to join the EEC when
• it was formed in 1957. But they were impressed
  with the rapid recovery and economic growth of
  the ECSC countries, so they decided they would
  form a more modest arrangement of their own.

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Founding the EFTA

• In 1960 at the Stockholm Convention, the European
  Free Trade Area (EFTA) was established.
• Participants were Austria, Denmark, Norway,
  Portugal, Sweden, Switzerland and the United
  Kingdom.

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Founding The EFTA

• This was a good compromise for England, a country
  which wished to preserve a special relationship
  with the U.S., yet be a part of its European
  neighbors in a less intensive institutional
  arrangement.

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Spectacular EEC Success

• The economic growth of EEC markets surprised and
  impressed the world. The EFTA countries felt
  themselves falling behind rapidly. The EEC began
  to incorporate EFTA members. The UK was for a
  long time a holdout.

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Spectacular EEC Success

• In 1972-73 Denmark, Ireland, and the UK joined
  the EC, converting the six into nine.
• Trade within the EEC grew twice as fast as world
  trade as a whole during the 1960s. Drastic
  economic dislocation did not occur, all parties
  benefited. As the area of free trade expanded,
  the benefits of economic growth were enjoyed.

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Large Markets Are Beneficial

• The Europeans have perceived that U.S. growth and
  prosperity have largely been the result of having
  a large market with a single currency and trade
  regulations.
• For this we are indebted to the founding fathers
  and Abraham Lincoln, who were determined to keep
  the country unified as one nation under God.