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1965 University of Illinois Law Forum 781


In this paper I shall attempt to evaluate the potential impact of economic association among underdeveloped countries. Attention is centered on gain achievable by participating states as a group: world welfare alteration appears devoid of normative implication to the national decision maker, while questions of internal distribution of union benefit are too complex for summary treatment. Conclusions of amalgamation efficacy rest jointly on abstract analysis and deduction from empirical economic parameters; discussion of trade and development theory is extended beyond that logically necessary for argument coherence to provide a brief introduction to relevant recent thought.