A Rehabilitation of Absolute Advantage | Zendy

Glenn MacDonald | Zendy; James R. Markusen | Zendy

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A Rehabilitation of Absolute Advantage

Author(s) -

Glenn MacDonald,

James R. Markusen

Publication year - 1985

Publication title -

journal of political economy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 21.034

H-Index - 186

eISSN - 1537-534X

pISSN - 0022-3808

DOI - 10.1086/261300

Subject(s) - trade in services , human multitasking , politics , incentive , management , political science , economics , library science , law , trade barrier , psychology , computer science , cognitive psychology , microeconomics

This paper considers the question of how optimal assignments depend on the endowed traits of economic agents. Its most useful point is that the absolute levels of these traits, in conjunction with technology, always determine the structure of efficient allocations. Only under very special circumstances do summary measures of the strycture of traits, such as comparative advantage, succeed in performing this function unless they do so tautologically.

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