On Friday we'll be looking at Trade Creation and Trade Diversion, concepts that define whether a trade agreement is, in a very specific sense, 'good' or 'bad'. They were developed by Jacob Viner, a professor at U. Chicago and one of the foremost trade theorists of his generation.
Click here to browse his online works. For those interested, look in particular at Studies in the Theory of International Trade. 1937, and Free Trade and Customs Unions.