Question

Anyone please explain the Jacob Viners Defination. No spams please. Donot copy!

Answer 1

theorist in his own right. His book The Customs Union Issue introduced the distinction between the trade-creating and the trade-diverting effects of customs unions (see international trade agreements). His earliest book, Dumping, is a comprehensive analysis of the subject.

Viner is known for his view that the long run matters. Some of his best articles are reprinted in a 1958 book, The Long View and the Short. “No matter how refined and how elaborate the analysis,” Viner wrote, “if it rests solely on the short view it will still be … a structure built on shifting sands.” One of the articles included in Viner’s book, “Cost Curves and Supply Curves,” lays out the short-run and long-run cost curves that still show up in microeconomics texts.

Viner, who grew up in Montreal, was an undergraduate student at McGill University, where he studied economics under the famous Canadian humorist Stephen Leacock. He earned his Ph.D. at Harvard, writing his dissertation under international trade economist Frank W. Taussig. He was a professor at the University of Chicago from 1916 to 1917 and from 1919 until 1946. He moved to Princeton in 1946, where he taught until retiring in 1960. For many of his years at Chicago, Viner, along with Frank Knight, edited the Journal of Political Economy. Viner is not considered part of the Chicago school as he was much less sympathetic to free markets than his Chicago school colleagues.

Answer 2

Explanation:

Viner graduated from McGill University (1914) and then immigrated to the United States, obtaining his Ph.D. from Harvard University in 1922. He was a professor at the University of Chicago (1925–46)—with which his name is particularly associated—and Princeton University (1946–60), where he was emeritus after 1960. Early in his career he became associated with the economist Frank Taussig, who greatly influenced Viner’s theories on international trade.

These theories are embodied in three works in particular: Canada’s Balance of International Indebtedness (1924), a study of balance of payments adjustment; Studies in the Theory of International Trade (1937), a major work in the history of economic thought; and The Customs Union Issue (1950), containing the now-familiar trade-creation/trade-diversion distinction. These works are regarded as classics in their field. Viner’s work on international trade covered the entire field from pure theory to policy. He was one of the greatest writers in economic history, combining erudition and critical acuteness to an extraordinary degree. But he was a highly competent theorist over a much wider field than international economics, and in The Long View and the Short (1931) he made what many regard as a fundamental contribution to the theory of costs by clarifying the relationship between long- and short-run costs. This work presented his now-famous envelope cost curve.