• Takashi Negishi
Part of the Research Monographs in Japan-U.S. Business & Economics book series (JUSB, volume 6)


According to Schumpeter,1 the construction of scientific economics was started in the late eighteenth century on two different foundations made in earlier periods. The first one is the ancient and medieval economic thought of philosophers, while the second one is popular arguments of current practical economic problems in the sixteenth to eighteenth centuries (Schumpeter [1954], pp. 9–10). The medieval theories of just price and usuary can be considered as representative examples of the former. The latter is, of course, related to what is now called mercantilism. Since it deeply concerned with problems of international trade, our explanation of the development of the theory of international trade is also to start with the consideration of mercantilism.


International Trade Late Eighteenth Century Aggregate Supply Trade Surplus Effective Demand 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Blaug, M., 1985, Economic Theory in Retrospect, Cambridge: Cambridge University Press.Google Scholar
  2. Heckscher, E. F., 1955, Mercantilism, 2, E. F. Söderlund, ed., London: George Allen and Unwin.Google Scholar
  3. Hutchison, T. W, 1978, On Revolutions and Progress in Economic Knowledge, Cambridge: Cambridge University Press.Google Scholar
  4. Keynes, J. M., 1936, The General Theory of Employment, Interest and Money, London: Mcmillan.Google Scholar
  5. Kobayashi, N., 1976, Keizaigakushi Chosakushu (Collected works on the history of economics), 1, Tokyo: Miraisha.Google Scholar
  6. McCulloch, J. R., ed., 1954, Early English Tracts on Commerce, Cambridge: Cambridge University Press.Google Scholar
  7. Marx, K., 1954, Capital, I, Moscow: Progress Publishers.Google Scholar
  8. Marx, K., 1963, Theories of Surplus value, I, Moscow: Foreign Language Publishing House.Google Scholar
  9. Petrella, F., 1968, Adam Smith’s rejection of Hume’s price-specie-flow mechanism: a minor mystery resolved, Southern Economic Journal, 34, pp. 365–374.CrossRefGoogle Scholar
  10. Schumpeter, J. A., 1954, Economic Doctrines and Method, R. Aris, tr., London: George Allen and Unwin.Google Scholar
  11. Smith, A., 1976, An Inquiry into the Nature and Causes of the Wealth of Nations, Oxford: Oxford University Press.Google Scholar

Copyright information

© Springer Science+Business Media New York 2001

Authors and Affiliations

  • Takashi Negishi
    • 1
  1. 1.Aoyama Gakuin UniversityJapan

Personalised recommendations