vent for surplus

Definition

Economics

  • The concept that a country - especially a developing country - may be able to gain by exporting the products of factors that would not be employed at all without trade. This "vent for surplus" theory of trade was developed especially by Myint (1958), who attributed the term to Williams (1929) and before that to Mill (1848) and the idea to Smith (1776).
http://www.dictionarycentral.com/definition/vent-for-surplus.html