An Outline of International Price Theories

by Wu,Chi-Yuen

• ISBN13: 9780415313667
• ISBN10: 041531366X
• Edition: 1st
• Format: Hardcover
• Copyright: 2003-09-24
• Publisher: Routledge

Summary

First published in 1939

Table of Contents

CHAPTER 1: INTRODUCTION 1. Introductory Remarks 2. the four major problems in the theory of international price relationships: the Problems 3. A bird's-eye view of the historical development of the theory 4. the plan of the following chapters CHAPTER 2: THE MERCANTILISTIC THEORIES 1. Mercantilism: four stages of its development. the first period: before 1550 2. the second period: 1550 to 1620. the controversy concerning the price revolution (Hales, Malestroit, Bodin) 3. the foreign exchange controversy 4. Gerrald de Malynes 5. the third period: 1620 to 1680. the balance of trade controversy (Mun and others) 6. Vaughan, Petty and Potter 7. the fourth period: 1680 to about 1750. the first protectionist controversy (Cary, Pollexfen, Child, Davenant). North, a free trader. 8. John Locke and N. Barbon 9. the doctrine that money stimulates trade and production: Law, Melon and Forbonnais 10. 'The Semi-Equilibrium Doctrine': Vanderlint, Cantillon and Harris 11. Summary CHAPTER 3: FROM DAVID HUME TO JOHN STUART MILL: THE DEVELOPMENT OF THE CLASSICAL THEORIES 1. David Hume 2. the Physiocrats and Adam Smith 3. the Bank Restriction Controversy: 1797 to 1803: Boyd, Thornton and others 4. 1803 to 1808: Foster and the Report of the Committee on Irish Currency and Exchanges 5. Wheatley and Blake 6. the report of the Bullion Committee. Ricardo, Malthus and Bosanquet. Contributions of the participants in the Bank Restriction Controversy 7. Nassau Senior. 8. the Bank Charter Act Controversy: the currency school (Norman, Loyd and Torrens) 9. the restatement by J.S. Mill 10. Summary CHAPTER 4: THE CLASSICAL THEORY OF INTERNATIONAL TRADE 1. the argument for a separate theory for international trade 2. the doctrine of comparative costs: Torrens and Ricardo. 3. the same subject continued: Marshall and Haberler 4. the doctrine of reciprocal demands: Longfield, Torrens, Pennington and JS Mill 5. Marshall's restatement of the theory of international value as an improvement upon the classical theory of international value 6. Cost of transport as a factor in international trade 7. the classical theory of international trade as the foundation of the classical theory of international price relationships CHAPTER 5: POST-CLASSICAL DEVELOPMENT OF MONETARY ASPECTS OF THE THEORY OF INTERNATIONAL PRICE RELATIONSHIPS: 1848-1918 1. the controversy concerning the gold discoveries of 1848-1851: Austin, Stirling, Chevalier and Newmarch 2. the same subject continued: Levasseur, Cairnes, Jevons and Leslie 3. the rate of interest as a regulator of the international movement of specie (i.e. by influencing the rate of foreign lending): Goschen, Bagehot and Laughlin. 4. the rate of interest both as a regulator of the international movement of specie and as a regulator of price movements: De Laveleye and Juglar 5. the indirect chain of effects that connect money and prices: Sidgwick, Giffen and Marshall. Other contributions of Marshall. 6. Knut Wicksell 7. Later restatements of the classical doctrine: Mises and Taussig. 8. the theory of R.G. Hawtrey. 9. Summary CHAPTER 6: DEVELOPMENTS SINCE 1918: THEORIES OF THE EXCHANGES UNDER DEPRECIATED CURRENCIES 1. Preliminary remarks. the balance of payments theory. 2. the purchasing power parity theory: Cassel's version of the theory. 3. the place of cost conveyance and the role of international demands: Pigou, Viner and Heckscher 4. the dynamic factors: the secondary changes in data, the importance of the psychological elements and the problem of casual sequence. the effects of a change in the rate of the exchanges on prices and trade. CHAPTER 7: DEVELOPMENTS SINC 1918: THE TRANSFER PROBLEM 1. Theories of transfer and their developments before the Great War 2. the earlier controversy