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The Terms of Trade of the United Kingdom, 1798–1913

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  • Imlah, Albert H.

Abstract

Concepts of the terms of trade as a means of measuring a country's gain or loss from exchange of goods have been discussed by students of economic theory for a hundred years or more. Until comparatively recently they have remained concepts only, without substantive application, but the tremendous disturbances in trading relationships and monetary standards in the last three decades have quickened interest in the subject. The various formulas devised for the measurement of relative movements of prices and quantities of exports and imports are now used with increasing frequency for the study of relatively current situations. They have not been applied much as yet to illuminate earlier trading history, largely because of the labor involved in deriving and organizing the limited data available. Apart from this difficulty there seems to be no very strong reason why they should not be as useful for economic history as for current analysis.

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  • Imlah, Albert H., 1950. "The Terms of Trade of the United Kingdom, 1798–1913," The Journal of Economic History, Cambridge University Press, vol. 10(2), pages 170-194, November.
    • Handle: RePEc:cup:jechis:v:10:y:1950:i:02:p:170-194_06
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    Cited by:

    1. Dubiel, Ivo, 1986. "Changes of social relevance in the transplantation of theories: the examples of economics and agronomics," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.

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