A New Construction of Ricardian Theory of International Values

This is the first book published in English on the new international value theory, presented by Yoshinori Shiozawa in 2007. Shiozawa submitted a solution to the question on international values since Ricardo by constructing a Ricardo-Sraffa model on trading economies with M countries and N commodities including intermediate inputs (normally M < n).="" the="" new="" theory="" is="" based="" on="" the="" assumption="" that="" prices="" are="" determined="" by="" production="" costs,="" which="" is="" the="" property="" derived="" from="" the="" classical="" value="" theory.="" the="" papers="" collected="" here="" deal="" with="" the="" following:="" introducing="" readers="" to="" the="" new="" theory;="" presenting="" diagrammatic="" illustrations="" of="" the="" new="" theory;="" analysing="" efficient="" patterns="" of="" specialization="" allowing="" intermediate="" inputs;="" examining="" how="" the="" new="" theory="" gives="" a="" new="" horizon="" to="" the="" neo-ricardian="" trade="" theory;="" investigating="" competitiveness,="" the="" long-period="" method,="" and="" potentiality="" from="" the="" perspectives="" of="" the="" new="" theory;="" discussing="" mill's="" conversion="" toward="" neoclassical="" revolution;="" scrutinizing="" how="" the="" concept="" of="" comparative="" advantage="" has="" developed="" and="" diverged="" from="" ricardo's="" trade="" theory;="" discussing="" the="" purification="" of="" marshall's="" value="" theory="" through="" mill's="" influence;="" reviewing="" the="" controversies="" on="" international="" values="" among="" japanese="" economists;="" considering="" the="" value-added="" trade="" based="" on="" the="" ricardian="" value="" theory;="" and="" lastly="" giving="" a="" mathematical="" explanation="" of="" the="" definitions="" and="" theorems="" of="" the="" new="">