XVI Of Rent Book III Exchange In his third book, Mill addressed one of the issues left unresolved by David Ricardo's theory of comparative advantage, namely to whom the gains of trade were distributed. Mill's answer was that international trade benefited most the country whose demand for goods is most elastic. It is also in this third book, primarily in Chapter I, that Mill considers communism and socialism as alternatives to capitalism. I Of Value II Of Demand and Supply, in their relation to Value III Of Cost of Production, in its relation to Value IV Ultimate Analysis of Cost of Production V Of Rent, in its relation to Value VI Summary of the Theory of Value VII Of Money VIII Of the Value of Money, as dependent on Demand and Supply IX Of the Value of Money, as dependent on Cost of Production X Of a Double Standard, and Subsidiary Coins XI Of Credit, as a Substitute for Money XII Influence of Credit on Prices XIII Of an Inconvertible Paper Currency XIV Of Excess of Supply XV Of a Measure of Value XVI Of some Peculiar Cases of Value XVII Of International Trade XVIII Of International Values XIX Of Money, considered as an Imported Commodity XX Of the Foreign Exchanges XXI Of the Distribution of the Precious Metals through the Commercial World XXII Influence of the Currency on the Exchanges and on Foreign Trade XXIII Of the Rate of Interest XXIV Of the Regulation of a Convertible Paper Currency XXV Of the Competition of Different Countries in the same Market XXVI Of Distribution, as affected by Exchange Book IV Influence of the Progress of Society on Production and Distribution In his fourth book Mill set out a number of possible future outcomes, rather than predicting one in particular. The first followed the Malthusian line that population grew quicker than supplies, leading to falling wages and rising profits. The second, per Smith, said if capital accumulated faster than population grew then real wages would rise. Third, echoing David Ricardo, should capital accumulate and population increase at the same rate, yet technology stay stable, there would be no change in real wages because supply and demand for labour would be the same. However growing populations would require more land use, increasing food production costs and therefore decreasing profits. The fourth alternative was that technology advanced faster than population and capital stock