Monday, June 17, 2013

Outline of International Price Theories by Chi-Yuen Wu

Status: One Round of QC (06.18.2013)


ISBN: 978-1-61016-045-2
eISBN: 978-1-61016-619-5

Fix Notes:

Page 1: first par. in subchapter 2: technological

[...] (3) the price relations of goods of identical tenchnological composition among trading countries ; [...]

Page 84: Footnote 3: "Andreades" -> Andréadès

Page 101: par. 3: period

Addington's statement, whatever might be its merits or demerits, represented the view of the Government and of business circles during the peroid.

Page 109: par. 0: Wheatley

Wheatly himself explicitly recognized that his doctrine differed from that of Hume,1 and tried to defend his own position by attempting to refute the latter’s doctrine.

Page 119: par. 2: international

Ricardo seemed to have found it necessary to concede that a subsidy payment might affect the rate of exchange and internatioanl price relationships.

Page 140: Footnote 2: Friedrich

Tooke, Inquiry, p. 123. See also pp. 67-76. The best exponents of the income theory of the value of money are Freidrich von Wieser, R. G. Hawtrey, and Albert Aftalion.

Page 150: par. 1: vigorously

It was very ably stated by Senior and vigoriously expounded by Mill, who modified it.

Page 162: par. 0: substitution-curve

We can derive the conditions of substitution between the two commodities and express them in the form of a sub-sitution-curve, when many different factors of production are available just as well as when there is only homogeneous labour.

Page 223: par. 0: necessary

It was necesssary to keep in mind, however, that “the influence of credit or the rate of interest is only one of the factors acting on prices; the other is the volume of metallic money itself, [...]

Page 227: par. 3: themselves

Nor did Wicksell accept uncritically Mill’s doctrine, namely that prices would tend to stand highest “in the countries for whose exports there is the greatest foreign demand, and which have themsleves the least demand for foreign commodities Wicksell made the following comment:—

Page 253: par. 0: recognized

[...] he recognzied that the actual rate of exchange may permanently deviate from the purchasing power parity, because of obstacles to trade.

Page 283: par. 3: right double quote right before Footnote 3 in the text

“Nevertheless,” he said, “even with this correction, Taussig’s argument still holds that without gold movements and changes in price levels there is no visible mechanism whereby increased purchases by the borrowers of foreign commodities, and of those domestic commodities which otherwise would be exported, will exactly equal the amount of the borrowings.’3

Page 295: Footnote 2: classical

We must also take into consideration of the influence of the shift of the demand curves (to the right in the borrowing country, to the left in the lending country) which brings about a much quicker adjustment of the balance of international payments than the mechanism described in the clasical doctrine.

Page 296: par. 1 (first line of page): Pigou

Similar conclusions have been reached by Professor Pegou.1

Page 323: "Boisquilbert" -> Boisguilbert

Page 324: Gresham

Burgon, J. W. Life and Time of Sir Thomas Greshams. London, 1839.

Page 328: "Serra, Antanio" -> "Serra, Antonio"


Page 180 same as earlier image/formula on page 160

On many of the formulas, I generated them into images at 800 dpi. Some of the fractions on fractions are just impossible to emulate/unreadable using basic text.


Page 136: par. 2: No idea if this is correct (?)

It is quite clear that paper created and so paid away by the Government not beingereturnable to the issuer, will constitute a fresh source of demand, and must be forced into and permeate all the channels of circulation.

Throughout the book, there was quite often the usage of "v" and "I" instead of "u" and "J". Was this just some old way of spelling in ~1600 before the letter "v" and "j" was in the English language? Example:

Towards the bottom of page 326:

———England’s View, in the Vnmasking of Two Paradoxes (of de Malestroict) with the Replication vnto the Answer of Maister Iohn Bodine. London, 1603. Throughout the book, his name is spelled in 4 ways:


Should these all be fixed to "McCulloch"?

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