International Commodity Agreements More

International Commodity Agreements More

International Commodity Agreements These agreements have worked in the post-war period in a small number of commodities with some success in reducing fluctuations without appreciably distorting production or trade. A weakness of all three kiwis is that it is nearly impossible to distinguish between temporary or recurrent fluctuations and deep-seated charges in prices that reflect changes in the conditions of supply or demand requiring improvements in methods of production or reductions in the number of producers, fundamental adjustments that would be resisted by the varied interests that the schemes tend to create. The many difficulties of all kinds of international commodity agreements have led some economists to argue that the primary producers of the under-developed countries can be best helped in the long run by assisting them to help themselves by saving and developing the entrepreneurial qualifies that underlie western economic progress. The possibilities of insurance against price fluctuations, perhaps state-assisted, have also been urged by some economists and have yet to be explored fully. Such measures might provide the best solution since they would interfere least with consumers and avoid political

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