About: Vent for surplus

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Vent for surplus is a theory that was formulated by Adam Smith and later revised by Hla Myint on his thesis of South East Asia. The theory states that when a country produces more than it can consume it produces a surplus. This underutilization causes an inward movement on the production possibilities frontier. Trade with another country is then used to vent off this surplus and to bring the production possibilities frontier back to full capacity.

Attributes	Values
rdf:type	work
rdfs:label	Vent for surplus (en)
rdfs:comment	Vent for surplus is a theory that was formulated by Adam Smith and later revised by Hla Myint on his thesis of South East Asia. The theory states that when a country produces more than it can consume it produces a surplus. This underutilization causes an inward movement on the production possibilities frontier. Trade with another country is then used to vent off this surplus and to bring the production possibilities frontier back to full capacity. (en)
dcterms:subject	Adam Smith International trade theory
Wikipage page ID	30848583 (xsd:integer)
Wikipage revision ID	1032584472 (xsd:integer)
Link from a Wikipage to another Wikipage	Hla Myint John Stuart Mill Adam Smith Adam Smith Principles of Political Economy Internet Archive International trade theory
Link from a Wikipage to an external page	https://web.archive.org/web/20110312055456/http:/www.economyprofessor.com/economictheories/vent-for-surplus.php
sameAs	Vent for surplus Vent for surplus Vent for surplus
dbp:wikiPageUsesTemplate	dbt:Reflist dbt:Cite_wikisource dbt:Economics-stub
has abstract	Vent for surplus is a theory that was formulated by Adam Smith and later revised by Hla Myint on his thesis of South East Asia. The theory states that when a country produces more than it can consume it produces a surplus. This underutilization causes an inward movement on the production possibilities frontier. Trade with another country is then used to vent off this surplus and to bring the production possibilities frontier back to full capacity. Concerning the classical formulation of the theory (by Adam Smith), John Stuart Mill, in his ‘’Principles of Political Economy’’ says, that the “vent for surplus” approach is “in truth a surviving relic of the Mercantile Theory, according to which, money being the only wealth, selling, or in other words, exchanging goods for money, was (to countries without mines of their own) the only way of growing rich—and importation of goods, that is to say, parting with money, was so much subtracted from the benefit.” (en)
gold:hypernym	Theory
prov:wasDerivedFrom	wikipedia-en:Vent_for_surplus?oldid=1032584472&ns=0
page length (characters) of wiki page	1725 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Vent_for_surplus
is Link from a Wikipage to another Wikipage of	Hla Myint Harold Innis
is foaf:primaryTopic of	wikipedia-en:Vent_for_surplus

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