The Fruits of Victory: A Sequel to The Great IllusionAngell, Norman
History
The Fruits of Victory: A Sequel to The Great Illusion
Angell, Norman
Economic history -- 1918-1945; World War, 1914-1918 -- Influence
That necessary international co-operation had, as a matter of fact, been
largely developed before the War. The cheapening of transport, the
improvement of communication, had pushed the international division of
labour very far indeed. The material in a single bale of clothes would
travel half round the world several times, and receive the labour of
half a dozen nationalities, before finally reaching its consumer. But
there was this very significant fact about the whole process;
Governments had very little to do with it, and the process did not rest
upon any clearly defined body of commercial right, defined in a regular
code or law. One of the greatest of all British industries, cotton
spinning, depended upon access to raw material under the complete
control of a foreign State, America. (The blockade of the South in the
War of Secession proved how absolute was the dependence of a main
British industry upon the political decisions of a foreign Government).
The mass of contradictory uncertainties relating to rights of neutral
trade in war-time, known as International Law, furnished no basis of
security at all. It did not even pretend to touch the source--the right
of access to the material itself.
That right, and the international economy that had become so
indispensable to the maintenance of so much of the population of Western
Europe, rested upon the expectation that the private owner of raw
materials--the grower of wheat or cotton, or the owner of iron ore or
coal-mines--would continue to desire to sell those things, would always,
indeed, be compelled so to do, in order to turn them to account. The
main aim of the Industrial Era was markets--to sell things. One heard of
'economic invasions' before the War. This did not mean that the invader
took things, but that he brought them--for sale. The modern industrial
nation did not fear the loss of commodities. What it feared was their
receipt. And the aid of Governments was mainly invoked, not for the
purpose of preventing things leaving the country, but for the purpose of
putting obstacles in the way of foreigners bringing commodities into the
country. Nearly every country had 'Protection' against foreign goods.
Very rarely did we find countries fearing to lose their goods and
putting on export duties. Incidentally such duties are forbidden by the
American Constitution.
Before the War it would have seemed a work of supererogation to frame
international regulations to protect the right to buy: all were
searching for buyers. In an economic world which revolved on the
expectation of individual profit, the competition for profit kept open
the resources of the world.
Public-domain text, read in full here on John Shaqi.
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