Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy — John Stuart Mill — John Shaqi
Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
Of International Trade.
§ 1. Cost of Production not a regulator of international values.
Extension of the word “international.”
§ 2. Interchange of commodities between distance places determined
by differences not in their absolute, but in the comparative, costs
of production.
§ 3. The direct benefits of commerce consist in increased Efficiency
of the productive powers of the World.
§ 4. —Not in a Vent for exports, nor in the gains of Merchants.
§ 5. Indirect benefits of Commerce, Economical and Moral; still
greater than the Direct.
Chapter XIV. Of International Values.
§ 1. The values of imported commodities depend on the Terms of
international interchange.
§ 2. The values of foreign commodities depend, not upon Cost of
Production, but upon Reciprocal Demand and Supply.
§ 3. —As illustrated by trade in cloth and linen between England and
Germany.
§ 4. The conclusion states in the Equation of International Demand.
§ 5. The cost to a country of its imports depends not only on the
ratio of exchange, but on the efficiency of its labor.
Chapter XV. Of Money Considered As An Imported Commodity.
§ 1. Money imported on two modes; as a Commodity, and as a medium of
Exchange.
§ 2. As a commodity, it obeys the same laws of Value as other
imported Commodities.
Chapter XVI. Of The Foreign Exchanges.
§ 1. Money passes from country to country as a Medium of Exchange,
through the Exchanges.
§ 2. Distinction between Variations in the Exchanges which are
self-adjusting and those which can only be rectified through Prices.
Chapter XVII. Of The Distribution Of The Precious Metals Through The
Commercial World.
§ 1. The substitution of money for barter makes no difference in
exports and imports, nor in the Law of international Values.
§ 2. The preceding Theorem further illustrated.
§ 3. The precious metals, as money, are of the same Value, and
distribute themselves according to the same Law, with the precious
metals as a Commodity.
§ 4. International payments entering into the “financial account.”
Chapter XVIII. Influence Of The Currency On The Exchanges And On
Foreign Trade.
§ 1. Variations in the exchange, which originate in the Currency.
§ 2. Effect of a sudden increase of a metallic Currency, or of the
sudden creation of Bank-Notes or other substitutes for Money.
§ 3. Effect of the increase of an inconvertible paper Currency. Real
and nominal exchange.
Chapter XIX. Of The Rate Of Interest.
§ 1. The Rate of Interest depends on the Demand and Supply of Loans.
§ 2. Circumstances which Determine the Permanent Demand and Supply
of Loans.
§ 3. Circumstances which Determine the Fluctuations.
§ 4. The Rate of Interest not really Connected with the value of