A simplified kinetic theory is described for spherical molecules interacting according to a square well potential. The statistical premises of this theory correspond closely to those of Longuet-Higgins' and Pople's theory of dense fluids of rigid spheres. The thermal conductivity )~, shear viscosity ~/and bulk viscosity K are predicted to be in the ratiowhere k is Boltzmann's constant and m the mass of a molecule. To calculate any of these coefficients absolutely requires independent information about the equilibrium pair distribution. This may be obtained from the selfdiffusion constant D, whose value is also given by the theory. For argon the measured value of D leads to a theoretical value for ~/ which is in good agreement with experiment; for this liquid however the observed ratio : ~/ is very much smaller than predicted.