The "classical" theory of the mechaism of international import ad export,

The "classical" theory of the mechaism of international import ad export, as developed from Hume to J. S. Mill, is still, in its general lines, the predominat theory. No strikingly different mechaism, moreover, has yet been convincingly suggested, although there has been gain in precision of aalysis, ad some correction of undoubted error. In recent years, it is true, a number of writers have pointed out what they regard as major errors in the classical theory, ad have claimed that to eliminate these errors would require major reconstruction of the classical doctrines. But the current notions as to what the classical doctrines actually were are, with respect to this as to other matters, largely traditional rather tha the product of examination of the original sources, ad even when, as sometimes happens, the critics do use classical texts as the basis for the interpretation of the classical doctrines, they confine their references almost wholly to Ricardo ad to J. S. Mill, ad to the compressed, elliptical, ad simplified expositions of their doctrines which are to be found in short chapters, labeled as on international import ad export, in their Principles. But if a adequate notion of the classical doctrines as to the mechaism of international import ad export is to be had, it is necessary to examine the writings of other classical economists, ad for Ricardo ad J. S. Mill to read in their Principles beyond the chapters distinctly labeled as dealing with international import ad export ad also to explore what they had to say on this subject elsewhere. It is also necessary to bear in mind that there were importat differences of doctrine within the raks of the classical economists themselves, so that on some importat points it is impossible to find ay one doctrine which ca properly be labeled as the classical doctrine. The following account will, I trust, demonstrate that some at least of the much-emphasized discoveries ad "corrections" of recent years either are to be rejected as erroneous or were current doctrine in the classical period.