Foreign Ownership and the Theory of Trade and Welfare
重新审视国际贸易理论中的标准议题，区分国民收入与总收入，发现当存在外资时，原本能提升国民福利的政策（如转移支付、经济增长或关税）可能导致福利损失。
Some standard topics in the theory of international trade are reconsidered in this paper by distinguishing between national and aggregate income when fixed supplies of foreign inputs are present within the home country. Under conditions that would ensure a national welfare gain if foreign ownership were absent, international transfer, economic growth, or tariff policy might cause a national welfare loss in the presence of foreign ownership. The techniques developed could be applied to other domestic distinctions (such as those based on race, sex, age, or ethnicity) and to the theory of customs unions in a three-country world.