The classical theorists on international values guilty of an overabstraction which led them into error. — Mill's exposition turns on an exceptional rather than a normal case, 56. — Bastable errs in the presentation of this exceptional case, 59. — Both lay down corollaries some of which are true only in exceptional circumstances and others not true at all, 59. — The logic of exports and imports, 63. — Trading situations involving several countries and commodities; conclusions alien to currently accepted theory, 70. — Conclusion, in a series of negative and positive propositions, 83.

Persistence of protectionist sentiment and its causes. — The principle of comparative advantage not an infallible guide in the economics of commercial policy, 203. — Effect of increasing and decreasing unit costs, 205. — Mathematical demonstration, 207. — Suggested tests for the modification of the principle of comparative advantage, 210. — Analysis of the “unit of productive power,” 212. — Effect of a change in the composition of this unit, 213. — Protection as an agent in bringing about such a change, 216. — Extension of the infant-industry argument to cover infant finance, 218. — Past and future relation of protection and prosperity, 225.