Political economy

Bibliographic data

Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

CHAPTER VI INTERNATIONAL TRADE The theory of international trade is another section of Economics which one may be tempted to represent as something apart from the general theory of value. It is a commonplace to say that value in the home trade is settled by cost of production ; and the statement is broadly accurate, because value in the home trade is determined by the marginal costs of different quantities of a thing in relation to the demand for different quantities. On the other hand, it is equally a common place to affirm that international values are not settled by the principle of cost of production, or at any rate not directly, but by the principle of comparative cost. Ricardo seems to have been the first to propound this fruitful doctrine; but it was left for later writers to make fully explicit that the doctrine of comparative costs is an integral part of the theory of home values. This latter is one of the ideas that I 145 K

Access restriction

Copyright

fullscreen: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation