First edition. 8vo. 158 pp. Original printed boards (scattered foxing to covers, otherwise a very good copy). London and New York, Royal Institute of International Affairs, 1950.
An incisive study by the British economist and civil servant Sir Ralph George Hawtrey (1879–1975) commissioned by the Royal Institute of International Affairs on the effects of a chronic adverse balance of international payments on the country’s standard of living.
Hawtrey was close friend of John Maynard Keynes and has the distinction of being one of the few authors to whom Keynes acknowledged an intellectual debt in the Preface to his General Theory.
