"The Theory of International Prices: History, Criticism and Restatement" is a seminal work in economic literature that provides a comprehensive analysis of the mechanisms governing international trade and monetary relations. Written by the distinguished economist James W. Angell, this volume offers a rigorous examination of the historical development of price theories, dating from the early mercantilists through the classical school to the early twentieth century.
The work is divided into three distinct parts. The first section traces the evolution of international price doctrine in various countries, including Great Britain, France, and Germany. The second part provides a critical evaluation of contemporary theories, addressing the complexities of the gold standard, paper money regimes, and the transfer of capital. In the final section, Angell presents a systematic restatement of the theory of international prices, seeking to reconcile traditional doctrines with modern economic realities.
This study remains a valuable resource for scholars of economic history and international finance. It clarifies the relationship between domestic price levels and international equilibrium, offering deep insights into the factors that influence exchange rates and global commerce. "The Theory of International Prices" serves as both an exhaustive historical record and a foundational text for understanding the evolution of global monetary thought.
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