ABSTRACT
The ‘vent-for-surplus’ approach to trade and development, which Hla Myint1 derived from the writings of Adam Smith, is a celebrated contribution to economics. The objective of this chapter is to unify the ‘vent-for-surplus’ approach with what Watkins2 has called the ‘staples’ theory of economic growth and with the factor proportions theory of comparative advantage. The basis for the proposed unification will be the concept of an endogenous land frontier.
