In economics, the Mill's paradox is a classical proposition that asserts an inverse correlation between the size of a country and the magnitude of its gains from its trade. The term was coined by Edgeworth (1899). In John Stuart Mill's words, "The richest countries, caeteris paribus, gain the least by a given amount of foreign commerce: since, having a greater demand for commodities generally, they are likely to have a greater demand for foreign commodities, and thus modify the terms of interchange to their own disadvantage".
John Somerset Chipman argues that the Mill's paradox is not a paradox at all; rather, it is another name for the Law of Demand.
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