The Theory of International Values Re-examined

Frank D. Graham

The Quarterly Journal of Economics, 1923, vol. 38, issue 1, 54-86

Abstract: The classical theorists on international values guilty of an overabstraction which led them into error. — Mill's exposition turns on an exceptional rather than a normal case, 56. — Bastable errs in the presentation of this exceptional case, 59. — Both lay down corollaries some of which are true only in exceptional circumstances and others not true at all, 59. — The logic of exports and imports, 63. — Trading situations involving several countries and commodities; conclusions alien to currently accepted theory, 70. — Conclusion, in a series of negative and positive propositions, 83.

Date: 1923
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