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Ricardo on Trade
Author(s) -
King John E.
Publication year - 2013
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/1759-3441.12057
Subject(s) - capitalism , globalization , economics , comparative advantage , trade theory , politics , neoclassical economics , context (archaeology) , poverty , set (abstract data type) , positive economics , free trade , international trade , political science , market economy , computer science , law , history , programming language , economic growth , archaeology
This paper considers the context, the details and some of the criticisms levied against the well‐known numerical example of comparative advantage that David Ricardo set out in chapter 7 of his PRINCIPLES. Particular attention is paid to the distribution of the gains from trade, to the relative importance of static and dynamic factors and to the political dimensions of trade theory. The paper concludes by relating Ricardo's trade theory to current controversies over globalization, unequal exchange, Third World poverty and the existence of different varieties of capitalism.