Abstract

Austria and Free Trade
Polanyi, Karl | October 7, 1931 issue

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One of the largest free-trade territories of the world, Austria-Hungary, was broken up and transformed into a network of customs barriers. And when the Austro-German plan for a customs union proposed this spring to establish freer trade in Central Europe, this move did not meet with general approval. Indeed, the war has proved absolutely disastrous to free trade. In Central and Eastern Europe, especially in Austria, where the war originated, the tragedy of free trade was keenly understood. Austria-Hungary had never before been so centralized and unified politically as during the war, and yet under the surface she was economically quietly disintegrating under the pressure of war and blockade.

See Also:

FREE trade; INTERNATIONAL trade; CUSTOMS unions; TARIFF; WAR & society; AUSTRIA
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