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Extensions of the Theory

In: A Generalized Theory of International Trade

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  • H. Peter Gray

Abstract

The reality of the generalized theory in its development in Chapters 4 and 5 has been constrained by the several assumptions made.1 These assumptions are also characteristic of work done with the orthodox theory. The purpose of this chapter is to release some of those assumptions so that the implications of some specified disturbance for the output-mix, income and trade structure of a nation can be analyzed under more realistic conditions. In the interests of maintaining as much simplicity as possible, the assumptions are released sequentially and not cumulatively.

Suggested Citation

  • H. Peter Gray, 1976. "Extensions of the Theory," Palgrave Macmillan Books, in: A Generalized Theory of International Trade, chapter 6, pages 103-119, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02883-2_6
    DOI: 10.1007/978-1-349-02883-2_6
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