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The article focuses on the revival of philosopher Adam Smith's theory of international trade, due to economist Hla Myint, who compared the trade theory in support of a vent-for-surplus and productivity theory. It discusses how Myint goes on to support Smith's theory drawing from his book "The Wealth of Nations". The article disapproves the economist Hla Myint's suggestions supporting Smith's theory.

An essay is presented on economist James Ahiakpor's criticism of research in regards to monetary theories at Harvard University and the University of Chicago in the early 1930s. It explores the Chicago tradition of economic thought, describes economist Henry Parker Willis' needs of trade theory, and examines the relationship of money to price, output, and employment. Other topics include the economist Milton Friedman, the Austrian tradition of economics, and the economist Lauchlin Currie.

The article discusses the economic theory of optimum currency areas. Though Robert Mundell is recognized as the founder of the literature on optimum currency areas, the basic principles of the theories were developed by Abba Lerner as he responded to the Bretton Woods accord, which set to create a new monetary order after the Great Depression shook the global economy. The author examines the early debate surrounding the Bretton Woods accord, the contributions of Lerner, and the theoretical aspects of monetary unions.

This article focuses on the general theory of employment, interest and money that was presented by economic analyst John Maynard Keynes in April 1943 as a revindication of the classical monetary theory. John Maynard Keynes's insightful critique of the classical economists in his book "General Theory of Employment, Interest, and Money" aimed at rebuilding economic analysis from its very foundations. Keynes's pathbreaking contribution held the stage for most of the twentieth century. It prompted the response of the monetarist counterrevolution, giving rise to a heated debate that is still going on, fueled by novel arguments, between new classicals and new Keynesians. Keynes's unflagging quest for monetary reform is grounded in his theoretical work on money. The plan, which was the culmination of three decades of reflection on the international monetary system, was motivated by Keynes's rejection of the gold standard and eventually of classical monetary theory altogether. It is striking, therefore, that in his last published article, in 1946, Keynes revives classical monetary economics and points out the mistake of neglecting the international adjustment mechanism based on the equilibrium hypothesis of classical economics.

This article examines the logical nature of David Ricardo's proof in his 1816 law of comparative advantage. Given the importance of comparative advantage, how it was discovered may give economists some insight into the process of highly creative thinking. The first section of the article restates the Ricardian law of comparative advantage. In order to indicate the difficulties in the way of discovering comparative advantage, the next section uses a counterfactual to show that Robert Torrens should not get credit for the law of comparative advantage. The third section defends the interference that Ricardo discovered comparative advantage around the first two weeks of October 1816 and showed the difference between Ricardo's statement and modern interpretations. The fourth section is devoted to Ricardo's other contributions to trade theory and the final section contains some concluding thoughts.