A NEW LOOK AT CUSTOMS UNION THEORY,
RAND CORP SANTA MONICA CALIF
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The theory of customs unions is reviewed, especially the events following the pioneering work of Viner Jacob Viner, The Customs Union Issue, New York, Carnegie Endowment for International Peace, 1950 and that of Lipsey R. G. Lipsey, Trade Diversion and Welfare, Economica, 2440-46 1957 and The Theory of Customs Unions A General Survey, Economic Journal, 70496-513 1960. Arguments are given concerning 5 facets of customs unions AD-608 648.