In this book, originally published in 1937, Jacob Viner traces, in a series of studies of contemporary source-material, the evolution of the modern orthodox theory of international trade from its beginnings in the revolt against English mercantilism in the 17th and 18th centuries, through the English currency and tariff controversies of the 19th century, to the late 20th century. The author offers a detailed examination of controversies in the technical literature centering on important propositions of the classical and neo-classical economists relating to the theory of the mechanism of international trade and the theory of gain from trade.
Table of Contents
1. English Theories of Foreign Trade Before Adam Smith: I 2. English Theories of Foreign Trade Before Adam Smith II 3. The Bullionist Controversies I: The Inflation Phase 4. The Bullionist Controversies II: The Deflation Phase 5. English Currency Controversies, 1825-1865 6. The International Mechanism Under A Simple Specie Currency 7. The International Mechanism in Relation to Modern Banking Processes 8. Gains from Trade: The Doctrine of Comparative Costs 9. Gains From Trade: The Maximization of Real Income. Appendix: A Note on the Scope and Method of the Theory of International Trade