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Journal Article
History of Political Economy (1996) 28 (3): 513–523.
Published: 01 September 1996
... on Foreign Trade: A Note on the ‘Vent-for-Surplus’ Argument. Economica 59 : 475 -81. Mill , John S. [1848] 1987 . Principles of Political Economy . Edited by W. Ashley. Fairfield: A. M. Kelley. Myint , Hla. 1958 . The ‘Classical Theory’ of International Trade Theory...
Journal Article
History of Political Economy (1973) 5 (2): 438–448.
Published: 01 June 1973
..., Mass., 1926 ). Bastable , C. F. , The Theory of International Trade , 4th ed. rev. (London. 1903 ). Caves , Richard E. , “Vent for Surplus' Models of Trade and Growth,” in Trade, Growth, and the Balance of Payments , ed. Caves, Johnson, and Kenen (Amsterdam: North-Holland Publishing...
Journal Article
History of Political Economy (2015) 47 (4): 577–603.
Published: 01 December 2015
...Reinhard Schumacher Hla Myint interpreted Adam Smith's “two distinct benefits” from foreign trade as a vent-for-surplus gain and a productivity gain. This classification has been adopted widely, but the vent-for-surplus gain has caused some debates. In this article, I show that Myint's...
Journal Article
History of Political Economy (1981) 13 (1): 173–175.
Published: 01 March 1981
.... In addition, she makes clear how interpretations depend on the meanings assumed for certain key terms. One ex- ample is the term vent, which plays an important part in Locke’s discussion of market exchange and his version of the quantity theory of money. Vent to the merchant, means the speed at which...
Journal Article
History of Political Economy (1994) 26 (2): 267–278.
Published: 01 June 1994
... compare the process of equilibration in each work. Section 6 examines the relevance of joint supply theory to Smith’s “vent for surplus” doctrine of international trade. Section 7 offers the main conclusions. 2. Mill’s Place in Current Literature In his well-known article “The Nature and Role...
Journal Article
History of Political Economy (1981) 13 (1): 95–120.
Published: 01 March 1981
... as the ‘pro- ductivity’ theory and the ‘vent for surplus’ the01-y.~It will be helpful to draw on this distinction in the discussion that follows. The ‘productivity’ theory The ‘productivity’ theory was widely repeated in the nineteenth century. John Stuart Mill, for example, in discussing...
Journal Article
History of Political Economy (2000) 32 (4): 711–732.
Published: 01 November 2000
...: to his mind market value was de- termined by the “proportion” between “quantity” (supply) and “vent” (demand), where vent depended upon “necessity or usefulness” (Locke [1691] 1991, 244).4 In keeping with these principles, Locke held that the “value of money” was determined by the plenitude...
Journal Article
History of Political Economy (1979) 11 (3): 406–424.
Published: 01 September 1979
... Smith and his followers [p. 1641. After this he tries to show how the classical economists saw trade as an “engine of growth”: stimulating savings and investment through the promotion of international specialization; boosting productivity by widening markets; providing an outlet, or “vent...
Journal Article
History of Political Economy (1974) 6 (2): 200–219.
Published: 01 June 1974
... in exchange “because its vent is the same, and its quantity alters slowly,” it is subject to alteration in relative value in response to changes in its supply and demand in the long run, just as are other things. Wheat, “being the constant and most general food,” serves better over long periods...
Journal Article
History of Political Economy (2000) 32 (1): 169–170.
Published: 01 March 2000
...- vented a unified challenge to orthodox economics. However, evolutionary concepts continue to attract the attention of economists. The contributions of Gardiner Means, Alvin Hansen, and Joseph Schumpeter are specifically examined. This is a nicely written...
Journal Article
History of Political Economy (2015) 47 (4): 687–689.
Published: 01 December 2015
... on the Corn Laws  151 Reinhard Schumacher Adam Smith’s “Two Distinct Benefits” from Trade: The Dead End of “Vent-for-Surplus” Interpretations 577 Norikazu Takami The Baffling New Inflation: How Cost-Push...
Journal Article
History of Political Economy (1977) 9 (2): 300–301.
Published: 01 June 1977
... hurdles pre- vented a full utilization of his enormous talents. One was the conflict between value-free science and the value commitment of politics. The other arose from the unrestrained taxing of his mental resources so that he suffered a nervous breakdown that turned him into a sick man...
Journal Article
History of Political Economy (1971) 3 (2): 238–264.
Published: 01 June 1971
.... This formulation flies in the face of the vent-for-surplus doctrine also discussed by Smith (pp. 353, 359, 415) according to which the advantages of trade lie in the market opened up for the products of domestic resources which would apparently otherwise be idle, rather than in the more efficient use...
Journal Article
History of Political Economy (2016) 48 (3): 471–487.
Published: 01 September 2016
... and use of our wares in forraign Countries, and our want of their commodities that causeth the vent and consumption on all sides, which makes a quick and ample Trade.15 And Mun forgets in this regard even the basic dogma of mercantilism, saying: The Proverb saith: “They that have Wares...
Journal Article
History of Political Economy (1989) 21 (3): 561–563.
Published: 01 September 1989
..., Edgeworth in- vented such basic concepts as the general utility function, indifference curves, Pareto optimality, and the core. But these were all tools to achieve his purpose, not the purpose itself. Professor Creedy’s full appreciation of Edgeworth’s inten- tions and achievements...
Journal Article
History of Political Economy (1980) 12 (1): 129–131.
Published: 01 March 1980
... as the mercantilists’ adherence to a “static” view of the economic world with fixity of resources and the resultant impossibility of recognizing the concept of mutual gains from trade. This pre- vented them from attaining a new economic Weltanschauung-or “dynamic” outlook in Heckscher’s phrase-that would have...
Journal Article
History of Political Economy (1985) 17 (2): 322–324.
Published: 01 June 1985
... as providing an opportunity for acquiring habits of work discipline. Having set the stage with the question, “What is history of economic theory”? he takes up “The Beginnings” (including “Precursors”) in chapter 2. Chapter 3, “The Logic of the Merchants,” gives vent to Misselden, Mun, Hale, Bacon...
Journal Article
History of Political Economy (1984) 16 (1): 135–138.
Published: 01 March 1984
... to 138 History of Political Economy I6:l (1984) be unavoidable in this world, a point explicitly made by Pullen, and indeed the sarcasm he vents on Mr. Dutton suggests that Malthus felt somewhat at bay on this issue. The concluding paragraph of this letter shows that in his earlier years...
Journal Article
History of Political Economy (1980) 12 (4): 635–638.
Published: 01 November 1980
... output and money paradigms. He admirably investigates the Smith-Say connections (pp. 16-19) but fails to discuss Smith’s non-Sayian views, for example his vent-for-surplus concept. Unfortunately, .he also de- votes little attention to the challenges to the Smith-Say-J. S. Mill paradigm...
Journal Article
History of Political Economy (1978) 10 (2): 349–352.
Published: 01 June 1978
... of Smith as a philosopher would have pre- vented these errors. But many of these errors might also have been avoided more easily by a more perceptive study of the Wealth of Nations itself. Public officials and others of the type described by Smith as “men of system’’ will typically oppose...