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In goods, freer farm trade could in theory yield the most for the world's poor.
ECONOMIST: Weighed in the balance
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Anything that is not on a goods-review list should, in theory, automatically be passed within ten days.
ECONOMIST: Sharpening sanctions
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Mercosur borders are more open in theory than fact: getting goods across can still be a time-consuming (and, at times, palm-greasing) affair.
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Whitehall sources argue that Mr Cameron has already secured a written vow by the 27 leaders that euro-zone deals may not undermine an achievement dear to Tory hearts the EU's internal market, with its free movement for capital, goods, people and services (at least in theory).
ECONOMIST: Bagehot
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In other words, the theory is that when the rate at which goods are shipped globally increases, so does economic growth.
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The theory, however, would be reversed: instead of only humanitarian goods being let into Iraq, everything would be free to go in except for prohibited items.
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This is exactly what economic theory would predict: countries with faster productivity growth in the traded-goods sector should see rising real exchange rates.
ECONOMIST: Currencies
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This would better reflect economic theory, which tells us that absent any failures a market will efficiently allocate goods, services, and capital on a local and global level.
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Meanwhile, Austrian theory focuses on the way changes of interest rates change the pattern of investment in capital goods.
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