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                <text>Economic Ideas</text>
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                <text>A list of ideas and theories in economics</text>
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            <text>"Where the trade-diverting effect is predominant, one at least of the member countries is bound to be injured, both may be injured, the two combined will suffer a net injury, and there will be injury to the outside world and to the world at large."</text>
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              <text>Trade Diversion</text>
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              <text>Trade flow is diverted from actually cost-efficient partner state to less efficient one</text>
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              <text>Jacob Viner&#13;
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              <text>The Customs Union Issue</text>
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              <text>1950</text>
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