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- Title
CLASSICAL THEORY, GRAHAM'S THEORY, AND LINEAR PROGRAMMING IN INTERNATIONAL TRADE: COMMENT.
- Authors
Schumann, Jochen; Todt, Horst
- Abstract
The article comments on the paper "Classical Theory: Graham's Theory and Linear Programming in International Trade,'" by T.M. Whitin published in the November 1953 issue of "The Quarterly Journal of Economics." In his illuminating paper T. M. Whitin has portrayed Graham's theory of international trade in two versions. Firstly, as a geometrical approach representing a two-commodity, three-country model and secondly, as an algebraically formulated model for commodities and countries. The paper also try to formulate within's geometrical approach to Graham's theory in more appropriate terms of algebra, thus revealing that immediate relations between Graham's theory and linear programming as pointed out by Whitin on the basis of his algebraic model, do not exist. The article informs that Whitin's geometrical representation of Graham's theory differs from his algebraic model. In the formulation of Whitin's geometrical representation of Graham's theory there is no problem of maximizing the value of world trade.
- Subjects
INTERNATIONAL trade; THEORY; ECONOMICS; WHITIN, T. M.; QUARTERLY Journal of Economics, The (Periodical); LINEAR programming; INTERNATIONAL markets; INTERNATIONAL finance
- Publication
Quarterly Journal of Economics, 1957, Vol 71, Issue 3, p464
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1884669