Ricardo on Trade

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 impor...

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Bibliographic Details
Published in:Economic papers (Economic Society of Australia) 2013-12, Vol.32 (4), p.462-469
Main Author: King, John E.
Format: Article
Language:English
Subjects:
Australia
Capitalism
Comparative advantage
Comparative advantage (commerce)
Criticism
Developing countries
Globalization
Poverty
Ricardo
Ricardo, David
Trade
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Summary: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.
ISSN:0812-0439
1759-3441
DOI:10.1111/1759-3441.12057