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2100:
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insight of the seminal paper by
Dornbusch, Fisher, and Samuelson. In fact, inserting an increasing number of goods into the chain of comparative advantage makes the gaps between the ratios of the labor requirements negligible, in which case the three types of equilibria around any good in the original model collapse to the same outcome. It notably allows for transportation costs to be incorporated, although the framework remains restricted to two countries. But in the case with many countries (more than 3 countries) and many commodities (more than 3 commodities), the notion of comparative advantage requires a substantially more complex formulation.
3055:
a formulation accounting for both multiple goods and multiple countries, in order to reflect real-world conditions more accurately. Jonathan Eaton and Samuel Kortum underlined that a convincing model needed to incorporate the idea of a 'continuum of goods' developed by
Dornbusch et al. for both goods and countries. They were able to do so by allowing for an arbitrary (integer) number i of countries, and dealing exclusively with unit labor requirements for each good (one for each point on the unit interval) in each country (of which there are i).
273:
231:, in exchange for a hundred pounds of lace, I take the quantity of lace which she has acquired by this transaction, and compare it with the quantity which she might, at the same expense of labour and capital, have acquired by manufacturing it at home. The lace that remains, beyond what the labour and capital employed on the cloth, might have fabricated at home, is the amount of the advantage which England derives from the exchange.
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theorizes that an economy should, on average, export goods with low self-sufficiency prices and import goods with high self-sufficiency prices. Bernhofen and Brown found that by 1869, the price of Japan's main export, silk and derivatives, saw a 100% increase in real terms, while the prices of numerous imported goods declined of 30-75%. In the next decade, the ratio of imports to gross domestic product reached 4%.
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producing wine than cloth. So, if each country specializes in the good for which it has a comparative advantage, then the global production of both goods increases, for
England can spend 220 labor hours to produce 2.2 units of cloth while Portugal can spend 170 hours to produce 2.125 units of wine. Moreover, if both countries specialize in the above manner and England trades a unit of its cloth for
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terms of averages across all commodities. His models provide multiple insights on the correlations between vectors of trade and vectors with relative-autarky-price measures of comparative advantage. "Deardorff's general law of comparative advantage" is a model incorporating multiple goods which takes into account tariffs, transportation costs, and other obstacles to trade.
247:
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isolate the workings of open trade from other processes, establishing its causal impact also remains complicated: it would require a comparison with a counterfactual world without open trade. Considering the durability of different aspects of globalization, it is hard to assess the sole impact of open trade on a particular economy.
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because of the mathematical difficulty. As John
Chipman points it, McKenzie found that "introduction of trade in intermediate product necessitates a fundamental alteration in classical analysis." Durable capital goods such as machines and installations are inputs to the productions in the same title as part and ingredients.
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productivity in turn determine the comparative advantages across different countries. Testing the
Ricardian model for instance involves looking at the relationship between relative labor productivity and international trade patterns. A country that is relatively efficient in producing shoes tends to export shoes.
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More recently, Golub and Hsieh (2000) presents modern statistical analysis of the relationship between relative productivity and trade patterns, which finds reasonably strong correlations, and Nunn (2007) finds that countries that have greater enforcement of contracts specialize in goods that require
3063:
Two of the first tests of comparative advantage were by MacDougall (1951, 1952). A prediction of a two-country
Ricardian comparative advantage model is that countries will export goods where output per worker (i.e. productivity) is higher. That is, we expect a positive relationship between output per
2731:
Terms of trade is the rate at which one good could be traded for another. If both countries specialize in the good for which they have a comparative advantage then trade, the terms of trade for a good (that benefit both entities) will fall between each entities opportunity costs. In the example above
3054:
Another important way of demonstrating the validity of comparative advantage has consisted in 'structural estimation' approaches. These approaches have built on the
Ricardian formulation of two goods for two countries and subsequent models with many goods or many countries. The aim has been to reach
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and John Brown have attempted to address this issue, by using a natural experiment of a sudden transition to open trade in a market economy. They focus on the case of Japan. The
Japanese economy indeed developed over several centuries under autarky and a quasi-isolation from international trade but
3030:
Assessing the validity of comparative advantage on a global scale with the examples of contemporary economies is analytically challenging because of the multiple factors driving globalization: indeed, investment, migration, and technological change play a role in addition to trade. Even if we could
214:
If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it off them with some part of the produce of our own industry employed in a way in which we have some advantage. The general industry of the country, being always in proportion to the capital which
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In both the
Ricardian and H–O models, the comparative advantage theory is formulated for a 2 countries/2 commodities case. It can be extended to a 2 countries/many commodities case, or a many countries/2 commodities case. Adding commodities in order to have a smooth continuum of goods is the major
2722:
There is another way to prove the theory of comparative advantage, which requires less assumption than the above-detailed proof, and in particular does not require for the hourly wages to be equal in both industries, nor requires any equilibrium between offer and demand on the market. Such a proof
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units of
Portugal's wine, then both countries can consume at least a unit each of cloth and wine, with 0 to 0.2 units of cloth and 0 to 0.125 units of wine remaining in each respective country to be consumed or exported. Consequently, both England and Portugal can consume more wine and cloth under
3045:
In 1859, the treaties limited tariffs to 5% and opened trade to Westerners. Considering that the transition from autarky, or self-sufficiency, to open trade was brutal, few changes to the fundamentals of the economy occurred in the first 20 years of trade. The general law of comparative advantage
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In a famous comment, McKenzie pointed that "A moment's consideration will convince one that Lancashire would be unlikely to produce cotton cloth if the cotton had to be grown in England." However, McKenzie and later researchers could not produce a general theory which includes traded input goods
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Skeptics of comparative advantage have underlined that its theoretical implications hardly hold when applied to individual commodities or pairs of commodities in a world of multiple commodities. Deardorff argues that the insights of comparative advantage remain valid if the theory is restated in
3003:
In view of the new theory, no physical criterion exists. Deardorff examines 10 versions of definitions in two groups but could not give a general formula for the case with intermediate goods. The competitive patterns are determined by the traders trials to find cheapest products in a world. The
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detached the doctrine of comparative advantage from Ricardo's labor theory of value and provided a modern opportunity cost formulation. Haberler's reformulation of comparative advantage revolutionized the theory of international trade and laid the conceptual groundwork of modern trade theories.
437:
In the absence of trade, England requires 220 hours of work to both produce and consume one unit each of cloth and wine while Portugal requires 170 hours of work to produce and consume the same quantities. England is more efficient at producing cloth than wine, and Portugal is more efficient at
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It would undoubtedly be advantageous to the capitalists of England, and to the consumers in both countries, that under such circumstances, the wine and the cloth should both be made in Portugal, and therefore that the capital and labour of England employed in making cloth, should be removed to
1309:
We assume that the relative demand curve reflects substitution effects and is decreasing with respect to relative price. The behavior of the relative supply curve, however, warrants closer study. Recalling our original assumption that Home has a comparative advantage in cloth, we consider five
434:(due to lower opportunity cost) in producing cloth means that it has an incentive to produce more of that good which is relatively cheaper for them to produce than the other—assuming they have an advantageous opportunity to trade in the marketplace for the other more difficult to produce good.
3070:
One critique of the textbook model of comparative advantage is that there are only two goods. The results of the model are robust to this assumption. Dornbusch et al. (1977) generalized the theory to allow for such a large number of goods as to form a smooth continuum. Based in part on these
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A symmetric argument holds for Foreign. Therefore, by trading and specializing in a good for which it has a comparative advantage, each country can expand its consumption possibilities. Consumers can choose from bundles of wine and cloth that they could not have produced themselves in closed
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work testing the predictions of comparative advantage. The empirical works usually involve testing predictions of a particular model. For example, the Ricardian model predicts that technological differences in countries result in differences in labor productivity. The differences in labor
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Haberler's innovation was to reformulate the theory of comparative advantage such that the value of good X is measured in terms of the forgone units of production of good Y rather than the labor units necessary to produce good X, as in the Ricardian formulation. Haberler implemented this
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demonstrated how, in a strategic setting where a few firms compete for the world market, export subsidies and import restrictions can keep foreign firms from competing with national firms, increasing welfare in the country implementing these so-called strategic trade policies.
79:(albeit with the assumption that the capital and labour do not move internationally), then each country will increase its overall consumption by exporting the good for which it has a comparative advantage while importing the other good, provided that there exist differences in
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worker and the number of exports. MacDougall tested this relationship with data from the US and UK, and did indeed find a positive relationship. The statistical test of this positive relationship was replicated with new data by Stern (1962) and Balassa (1963).
3012:
Comparative advantage is a theory about the benefits that specialization and trade would bring, rather than a strict prediction about actual behavior. (In practice, governments restrict international trade for a variety of reasons; under
3130:, which he states is not generally the case. According to Galbraith, nations trapped into specializing in agriculture are condemned to perpetual poverty, as agriculture is dependent on land, a finite non-increasing natural resource.
430:> 1). If the capital and labour were mobile, both wine and cloth should be made in Portugal, with the capital and labour of England removed there. If they were not mobile, as Ricardo believed them to be generally, then England's
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Y. Shiozawa, The New Interpretation of Ricardo's Four Magic Numbers and the New Theory of International Values / A Comment on Faccarello's "Comparative advantage"). A paper read on a conference on March 23,
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Y. Shiozawa, A new construction of Ricardian trade theory / A many-country, many commodity case with intermediates goods and choice of production techniques, Evolutionary and Institutional Economics Review
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The blue triangle depicts Home's original production (and consumption) possibilities. By trading, Home can also consume bundles in the pink triangle despite facing the same productions possibility frontier.
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Y. Shiozawa (2016) The revival of classical theory of values, in Nobuharu Yokokawa et als. (Eds.) The Rejuvenation of Political Economy, May 2016, Oxon and New York: Routledge. Chapter 8, pp. 151–72.
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Dosi et al. (1988) conducted a book-length empirical examination that suggests that international trade in manufactured goods is largely driven by differences in national technological competencies.
518:
The following is a typical modern interpretation of the classical Ricardian model. In the interest of simplicity, it uses notation and definitions, such as opportunity cost, unavailable to Ricardo.
2423:
2429:
With free trade, Home produces cloth exclusively, an amount of which it exports in exchange for wine at the prevailing rate. Thus Home's overall consumption is now subject to the constraint
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was, by the mid-19th century, a sophisticated market economy with a population of 30 million. Under Western military pressure, Japan opened its economy to foreign trade through a series of
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In the absence of trade, the relative price of cloth and wine in each country is determined solely by the relative labor cost of the goods. Hence the relative autarky price of cloth is
3082:, which substantially restricted the availability of imports to Gaza, saw labor productivity fall by 20% in three years. Markusen et al. (1994) reports the effects of moving away from
1121:) for cloth and wine, which we define as the ratio of the world demand (or supply) for cloth to the world demand (or supply) for wine. In general equilibrium, the world relative price
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310:
with less labor than it would take to produce the same quantities in England. However, the relative costs or ranking of cost of producing those two goods differ between the countries.
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Neoclassical and modern theories maintain the difference between domestic and international trade. They retain the assumption that both labour and capital do not move internationally.
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between both countries. Widely regarded as one of the most powerful yet counter-intuitive insights in economics, Ricardo's theory implies that comparative advantage rather than
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3017:, the US postponed opening up to free trade until its industries were up to strength, following the example set earlier by Britain.) Nonetheless there is a large amount of
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Several arguments have been advanced against using comparative advantage as a justification for advocating free trade, and they have gained an audience among economists.
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Equivalently, we may assume that Home has a comparative advantage in cloth in the sense that it has a lower opportunity cost for cloth in terms of wine than Foreign:
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are freely traded); Durable capital goods with constant efficiency during a predetermined lifetime; No transportation cost (extendable to positive cost cases).
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Appendix A: Previous Literature in A. Deardorff, Ricardian Comparative Advantage with Intermediate Inputs, The North American Journal of Economics and Finance
3071:
generalizations of the model, Davis (1995) provides a more recent view of the Ricardian approach to explain trade between countries with similar resources.
1534:
in the cloth sector. However, Home workers are indifferent between working in either sector. As a result, the quantity of cloth supplied can take any value.
5062:
4847:
3824:
Chipman, John S. (1965). "A Survey of the Theory of International Trade: Part 1, The Classical Theory". Econometrica 33 (3): 477–519. Section 1.8, p. 509.
3122:... none of the world's most successful trading regions, including Japan, Korea, Taiwan, and now mainland China, reached their current status by adopting
2992:. This was based on a wide range of assumptions: Many countries; Many commodities; Several production techniques for a product in a country; Input trade (
2095:, then Home specializes in cloth while Foreign workers are indifferent between sectors. Again, the relative quantity of cloth supplied can take any value.
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3274:. The Wall Street Journal: Classroom Edition (2nd ed.). Upper Saddle River, New Jersey: Pearson Prentice Hall: Addison Wesley Longman. p. 444.
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opportunity-cost formulation of comparative advantage by introducing the concept of a production possibility curve into international trade theory.
1974:, then both Home and Foreign specialize in cloth. The quantity of cloth supplied tends to infinity as the quantity of wine supplied approaches zero.
4179:
4083:
Dornbusch, R.; Fischer, S. & P. Samuelson (1977). "Comparative Advantage, Trade and Payments in a Ricardian Model with a Continuum of Goods".
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Dornbusch, R.; Fischer, S.; Samuelson, P. A. (1977). "Comparative Advantage, Trade, and Payments in a Ricardian Model with a Continuum of Goods".
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1980:
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domestically but not internationally; there may be migration between sectors but not between countries. We denote the labor force in Home by
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5102:
5092:
5002:
4502:
4379:
Bernhofen, Daniel M.; Brown, John C. (2005). "An Empirical Assessment of the Comparative Advantage Gains from Trade: Evidence from Japan".
3004:
search of cheapest product is achieved by world optimal procurement. Thus the new theory explains how the global supply chains are formed.
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5017:
4997:
4987:
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4821:
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Taking a broader perspective, there has been work about the benefits of international trade. Zimring & Etkes (2014) finds that the
5107:
5097:
4992:
4192:
2989:
2942:, have provided an explanation for aspects of trade that are not accounted for by comparative advantage. Nonetheless, economists like
521:
The world economy consists of two countries, Home and Foreign, which produce wine and cloth. Labor, the only factor of production, is
215:
employs it, will not thereby be diminished but only left to find out the way in which it can be employed with the greatest advantage.
75:
single good than workers in other countries. He demonstrated that if two countries capable of producing two commodities engage in the
3906:
Bernhofen, Daniel; Brown, John (2005). "An Empirical Assessment of the Comparative Advantage Gains from Trade: Evidence from Japan".
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184:
165:
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137:
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3796:
L. W. McKenzie Specialization and Efficiency in World Production, Review of Economic Studies 21(3): 165–80. Citation from p.179.
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can be extended to situations with many goods and many countries, non constant returns and more than one factor of production.
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3170:
2860:
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1655:, then both Home and Foreign specialize in wine, for similar reasons as above, and so the quantity of cloth supplied is zero.
144:
122:
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MacDougall, G. D. A. (1952). "British and American exports: A study suggested by the theory of comparative costs. Part II".
3994:
MacDougall, G. D. A. (1951). "British and American exports: A study suggested by the theory of comparative costs. Part I.".
5140:
1776:, then Home specializes in cloth whereas Foreign specializes in wine. The quantity of cloth supplied is given by the ratio
3147:
2327:
239:
featured the earliest recorded formulation of the concept of comparative advantage. Torrens would later publish his work
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Bernhofen, Daniel M.; Brown, John C. (2004). "A Direct Test of the Theory of Comparative Advantage: The Case of Japan".
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863:
766:
151:
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Free Trade and Absolute and Comparative Advantage: A Critical Comparison of Two Major Theories of International Trade
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2246:
4677:
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have responded with weaker generalizations of the principle of comparative advantage, in which countries will only
220:
3871:
Bernhofen, Daniel; Brown, John (2004). "A Direct Test of the Theory of Comparative Advantage: The Case of Japan".
2931:
2849:
227:
f I wish to know the extent of the advantage, which arises to England, from her giving France a hundred pounds of
133:
4597:
298:
4672:
3687:
Dornbusch, R.; Fischer, S.; Samuelson, P. A. (1980). "Heckscher-Ohlin Trade Theory with a Continuum of Goods".
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3160:
280:
In case II (squares), each country specializes in its comparative advantage, resulting in greater total output.
272:
4311:
Bernhofen, Daniel M (2005). "Gottfried haberler's 1930 reformulation of comparative advantage in retrospect".
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Recently, Y. Shiozawa succeeded in constructing a theory of international value in the tradition of Ricardo's
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The demand for cloth relative to wine decreases with the relative price of cloth in terms of wine; the supply
511:
in 1833. The earliest test of the Ricardian model was performed by G.D.A. MacDougall, which was published in
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4873:
4761:
4400:
Bernhofen, Daniel M.; Brown, John C. (2016). "Testing the General Validity of the Heckscher-Ohlin Theorem".
3546:
Bernhofen, Daniel (2005). "Gottfried Haberler's 1930 reformulation of comparative advantage in retrospect".
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1124:
707:
We do not know if Home can produce cloth using fewer hours of work than Foreign. That is, we do not know if
111:
4492:
4024:
Stern, Robert M. (1962). "British and American productivity and comparative costs in international trade".
756:. Similarly, we do not know if Home can produce wine using fewer hours of work. However, we assume Home is
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4349:
4107:
3580:
Krugman, P.R.; Obstfeld, M.; Melitz, M.J. (2015). "International Trade. Theory and Policy", 10th Edition.
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3512:
4796:
4756:
4714:
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672:
206:
1113:
Instead of considering the world demand (or supply) for cloth and wine, we are interested in the world
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582:
550:
362:
In this illustration, England could commit 100 hours of labor to produce one unit of cloth, or produce
3933:
Bernhofen, Daniel; John, Brown (2016). "Testing the General Validity of the Heckscher-Ohlin Theorem".
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4694:
2939:
2924:
1005:
223:
articulated a preliminary definition of comparative advantage as the loss from the closing of trade:
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4354:
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2735:
1486:
1435:
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4562:
4543:
4459:"Cloth for Wine? The Relevance of Ricardo's Comparative Advantage in the 21st Century" VoxEU Ebook.
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Y. Shiozawa, A Final Solution of the Ricardo Problem on International Values, Iwanami Shoten, 2014.
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2874:
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957:
492:
488:
158:
68:
67:
developed the classical theory of comparative advantage in 1817 to explain why countries engage in
528:
4894:
4557:
4367:
4328:
4282:
4248:
4164:
Zimring, A. & Etkes, H. (2014) "When Trade Stops: Lessons from the 2007–2010 Gaza Blockade".
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3888:
3756:
3704:
3669:
3625:
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3115:
3018:
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2107:
As long as the relative demand is finite, the relative price is always bounded by the inequality
84:
80:
2938:, motivated in part by the empirical shortcomings of the H–O model and its inability to explain
2321:
from which it follows that Home's cloth consumption at the production possibilities frontier is
4497:
4739:
4270:
4260:
4188:
4135:
Golub, S.; C-T Hsieh (2000). "Classical Ricardian Theory of Comparative Advantage Revisited".
3476:
3449:
3400:
3371:
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3275:
3235:
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58:
38:
4256:
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in Foreign. With free trade, the price of cloth or wine in either country is the world price
515:
of 1951 and 1952. In the Ricardian model, trade patterns depend on productivity differences.
378:
units of wine. Meanwhile, in comparison, Portugal could commit 100 hours of labor to produce
4667:
4567:
4484:'s 1996 exploration of why non-economists don't understand the idea of comparative advantage
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4388:
4359:
4320:
4150:
Nunn, N (2007). "Relationship-Specificity, Incomplete Contracts, and the Pattern of Trade".
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3617:
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3127:
3039:
3034:
3014:
2955:
2935:
1278:
1248:
278:
In case I (diamonds), each country spends 3600 hours to produce a mixture of cloth and wine.
54:
42:
4253:
The Predator State: How conservatives abandoned the free market and why liberals should too
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and derive the principle of comparative advantage in broader settings, most notably in the
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1059:
641:
614:
4786:
4719:
4709:
4572:
4465:
4039:
Balassa, Bela. (1963). "An empirical demonstration of classical comparative cost theory".
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There are some economists who dispute the claims of the benefit of comparative advantage.
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2914:
508:
258:
published what has since become known as the theory of comparative advantage in his book
3608:
Deardorff, Alan (Oct 1980). "The General Validity of the Law of Comparative Advantage".
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3528:
3165:
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666:
522:
34:
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4772:
4724:
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4121:
3853:
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3559:
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3296:
3197:. U.S. Bureau of Labor Statistics Division of Information Services. February 28, 2008
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504:
285:
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64:
50:
17:
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3629:
3529:"AP Economics Review: Comparative Advantage, Absolute Advantage, and Terms of Trade"
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of cloth relative to wine increases with relative price. Two relative demand curves
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4487:
4481:
4332:
3567:
2707:{\displaystyle Q_{C}=L/a_{LC}-(P_{W}/P_{C})Q_{W}\geq L/a_{LC}-(a_{LW}/a_{LC})Q_{W}}
4433:
Markusen, Melvin, Kaempfer and Maskus, "International Trade: Theory and Evidence"
3126:
trading rules." He argues that comparative advantage relies on the assumption of
4617:
3257:
Baumol, William J. and Alan S. Binder, 'Economics: Principles and Policy', p. 50
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100:
76:
4751:
4747:
4729:
4704:
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3856:(December 2003). "Kicking Away the Ladder: The "Real" History of Free Trade".
3393:"Chapter 3: David Ricardo's Trade Theory Anticipations and later developments"
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3123:
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228:
197:
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Davis, D. (1995). "Intraindustry Trade: A Heckscher-Ohlin-Ricardo Approach".
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possibilities for the relative quantity of cloth supplied at a given price.
53:
prior to trade. Comparative advantage describes the economic reality of the
3094:, with the result that national income increased by up to 65% in 15 years.
579:, and the amount of labor required to produce one unit of cloth in Home by
246:
3141:
2927:(which allows for the model to include more factors than just labour) and
1967:{\displaystyle \textstyle a_{LC}/a_{LW}<a'_{LC}/a'_{LW}<P_{C}/P_{W}}
1769:{\displaystyle \textstyle a_{LC}/a_{LW}<P_{C}/P_{W}<a'_{LC}/a'_{LW}}
1648:{\displaystyle \textstyle P_{C}/P_{W}<a_{LC}/a_{LW}<a'_{LC}/a'_{LW}}
57:
for individuals, firms, or nations, which arise from differences in their
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will be determined uniquely by the intersection of world relative demand
289:
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has stated that "free trade has attained the status of a god" and that "
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3708:
3673:
3083:
2841: in this section. Unsourced material may be challenged and removed.
2088:{\displaystyle \textstyle a_{LC}/a_{LW}<a'_{LC}/a'_{LW}=P_{C}/P_{W}}
1425:{\displaystyle \textstyle P_{C}/P_{W}=a_{LC}/a_{LW}<a'_{LC}/a'_{LW}}
472:
293:
125: in this section. Unsourced material may be challenged and removed.
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3595:
Comparative Advantage in International Trade: A Historical Perspective
3217:
Comparative Advantage in International Trade: A Historical Perspective
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2226:{\displaystyle a_{LC}/a_{LW}\leq {P_{C}/P_{W}}\leq {a'_{LC}/a'_{LW}}.}
665:
respectively. We denote the same variables for Foreign by appending a
547:, the amount of labor required to produce one unit of wine in Home by
495:. Although the idea of the Ricardian model was first presented in the
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in producing both cloth and wine due to more produced per hour (since
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3814:
http://fordschool.umich.edu/rsie/workingpapers/Papers501-525/r501.pdf
4178:
Markusen, J.R.; Melvin J.R., Kaempfer & W.M., K. Maskus (1994).
3700:
704:
is the amount of labor needed to produce a unit of wine in Foreign.
4363:
4238:
James K. Galbraith, The Predator State, Free Press, 2008, pp. 68–69
3884:
3645:
Theory of International Trade: A Dual, General Equilibrium Approach
3621:
3364:
Noel W. Thompson; Nigel F. B. Allington, eds. (13 December 2010).
2098:
1217:
307:
296:, each producing two goods of identical quality. In Portugal, the
271:
245:
3395:. In Shigeyoshi Senga; Masatomi Fujimoto; Taichi Tabuchi (eds.).
1853:
of the world production of cloth to the world production of wine.
5112:
4972:
303:
71:
even when one country's workers are more efficient at producing
4516:
3333:
An Inquiry into the Nature and Causes of the Wealth of Nations
2810:
94:
2962:
to export goods for which they have a comparative advantage.
4255:(First Free Press hardcover ed.). New York. pp.
3367:
English, Irish and Subversives Among the Dismal Scientists
2528:{\displaystyle a_{LC}Q_{C}+a_{LC}(P_{W}/P_{C})Q_{W}\leq L}
760:
more productive than Foreign in making in cloth vs. wine:
611:. The total amount of wine and cloth produced in Home are
507:, the first mathematical Ricardian model was published by
4056:
The Economics of Technical Change and International Trade
3647:. Cambridge: Cambridge University Press. pp. 93–126.
3500:(2008 ed.). New York: Prentice Hall. pp. 27–36.
1846:{\displaystyle \textstyle {\frac {L/a_{LC}}{L'/a'_{LW}}}}
243:
in 1815 acknowledging this pamphlet author's priority.
3359:
3357:
3348:
The Economists Refuted and Other Early Economic Writings
2913:
Since 1817, economists have attempted to generalize the
37:
is the advantage over others in producing a particular
1984:
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1172:
1128:
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2116:
1983:
1862:
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1320:
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1251:
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1171:
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1089:
1062:
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960:
866:
769:
713:
675:
644:
617:
585:
553:
531:
2974:
4943:
4908:
4900:
Cooperation Council for the Arab States of the Gulf
4887:
4861:
4835:
4804:
4795:
4738:
4646:
4550:
3425:
On the Principles of Political Economy and Taxation
2418:{\displaystyle Q_{C}=L/a_{LC}-(a_{LW}/a_{LC})Q_{W}}
261:
On the Principles of Political Economy and Taxation
27:
Lower relative opportunity cost in producing a good
2778:
2751:
2706:
2527:
2417:
2310:
2225:
2087:
1966:
1845:
1768:
1647:
1526:
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1424:
1297:
1267:
1237:
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1182:
1157:
1102:
1075:
1048:
994:
943:
846:
748:
696:
657:
630:
603:
571:
539:
302:more efficient country, it is possible to produce
4921:Economic and Monetary Community of Central Africa
4421:Findlay, Ronald (1987). "Comparative Advantage".
4222:Krugman, Paul R. (1987). "Is Free Trade Passe?".
2966:Dornbusch et al.'s continuum of goods formulation
1432:, then Foreign specializes in wine, for the wage
944:{\displaystyle a_{LC}/a_{LW}<a'_{LC}/a'_{LW}.}
847:{\displaystyle a_{LC}/a'_{LC}<a_{LW}/a'_{LW}.}
237:Considerations on the Importation of Foreign Corn
204:as the basis for international trade in 1776, in
4869:Customs Union of Belarus, Kazakhstan, and Russia
4853:South Asian Association for Regional Cooperation
2975:Deardorff's general law of comparative advantage
91:Classical theory and David Ricardo's formulation
87:is responsible for much of international trade.
4498:Comparative Advantage Definition | Investopedia
4013:. Vol. 62, no. 247. pp. 487–521.
3998:. Vol. 61, no. 244. pp. 697–724.
3960:Eaton, Jonathan; Kortum, Samuel (Spring 2012).
225:
212:
4154:. Vol. 122, no. 2. pp. 569–600.
3350:(1984 ed.). New York: Kelley. p. 37.
3234:. Universitätsverlag Potsdam. pp. 51–52.
2965:
2311:{\displaystyle a_{LC}Q_{C}+a_{LW}Q_{W}\leq L,}
4528:
4493:What is comparative advantage? | Investopedia
3533:www.reviewecon.com/comparative-advantage.html
2789:
499:(a single-commodity version) and then in the
219:Writing several decades after Smith in 1808,
41:. A good can be produced at a lower relative
8:
4488:The Ricardian Model of Comparative Advantage
4068:: CS1 maint: multiple names: authors list (
4054:Dosi, G., Pavitt, K, & L. Soete (1988).
3804:
3802:
1483:in the wine sector is greater than the wage
314:Hours of work necessary to produce one unit
4848:Regional Comprehensive Economic Partnership
4508:What Is Comparative Advantage? | The Street
4423:The New Palgrave: A Dictionary of Economics
4291:) CS1 maint: multiple names: authors list (
4228:. Vol. 1, no. 2. pp. 131–44.
4139:. Vol. 8, no. 2. pp. 221–34.
3008:Empirical approach to comparative advantage
235:In 1814 the anonymously published pamphlet
4801:
4535:
4521:
4513:
4443:A. O'Sullivan & S.M. Sheffrin (2003).
4287:: CS1 maint: location missing publisher (
3514:Mathematical methods for Economic analysis
3498:International Economics: Theory and Policy
2732:one unit of cloth would trade for between
4402:American Economic Journal: Microeconomics
4353:
4111:
3935:American Economic Journal: Microeconomics
3750:
3496:Krugman, Paul; Obstfeld, Maurice (1988).
3472:International Economics: A European Focus
3370:. Emerald Group Publishing. p. 101.
2901:Learn how and when to remove this message
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284:In a famous example, Ricardo considers a
185:Learn how and when to remove this message
4931:West African Economic and Monetary Union
4181:International Trade: Theory and Evidence
3026:Direct test: natural experiment of Japan
2790:Haberler's opportunity costs formulation
312:
3643:Dixit, Avinash; Norman, Victor (1980).
3297:"International Trade Theory and Policy"
3182:
4843:Association of Southeast Asian Nations
4663:UN Conference on Trade and Development
4280:
4061:
4041:The Review of Economics and Statistics
3724:"How Robust is Comparative Advantage?"
1158:{\displaystyle \textstyle P_{C}/P_{W}}
4608:Import substitution industrialization
3448:. Taylor & Francis. p. 312.
410:units of wine. Portugal possesses an
276:Graph illustrating Ricardo's example:
7:
5136:
4862:Europe, Central Asia, and North Asia
4472:The Principles of Trade and Taxation
4436:Hardwick, Khan and Langmead (1990).
3399:. Taylor & Francis. p. 33.
2839:adding citations to reliable sources
2794:In 1930 Austrian-American economist
1305:are drawn for illustrative purposes.
123:adding citations to reliable sources
4822:Central American Integration System
4438:An Introduction to Modern Economics
3597:. Cheltenham: Elgar. pp. 6–13.
3445:David Ricardo: Critical Assessments
3075:relationship-specific investments.
2538:while its cloth consumption at the
4166:Journal of International Economics
4100:Journal of International Economics
3689:The Quarterly Journal of Economics
2990:cost-of-production theory of value
697:{\displaystyle \textstyle a'_{LW}}
25:
4685:International Chamber of Commerce
4588:Export-oriented industrialization
4445:Economics. Principles & Tools
4313:Review of International Economics
4137:Review of International Economics
3731:Review of International Economics
3548:Review of International Economics
3475:. Pearson Education. p. 22.
2934:. Subsequent developments in the
749:{\displaystyle a_{LC}<a'_{LC}}
604:{\displaystyle \textstyle a_{LC}}
572:{\displaystyle \textstyle a_{LW}}
5135:
5126:
5125:
4503:Comparative Advantage Calculator
4325:10.1111/j.1467-9396.2005.00550.x
4225:Journal of Economic Perspectives
4087:. Vol. 67. pp. 823–39.
3969:Journal of Economic Perspectives
3743:10.1111/j.1467-9396.2005.00552.x
3560:10.1111/j.1467-9396.2005.00550.x
3391:Maneschi, Andrea (18 May 2017).
3140:
2815:
200:first alluded to the concept of
99:
49:price, i.e. at a lower relative
3427:. J. Murray. pp. 160–162.
3397:Ricardo and International Trade
3272:Economics: Principles in Action
3270:; Sheffrin, Steven M. (2003) .
2826:needs additional citations for
1049:{\displaystyle a'_{LC}/a'_{LW}}
503:(a multi-commodity version) by
110:needs additional citations for
4926:Southern African Customs Union
4152:Quarterly Journal of Economics
3442:Wood, John Cunningham (1991).
3171:Revealed comparative advantage
2779:{\displaystyle {\frac {9}{8}}}
2752:{\displaystyle {\frac {5}{6}}}
2691:
2657:
2617:
2589:
2506:
2478:
2402:
2368:
1527:{\displaystyle P'_{C}/a'_{LC}}
1476:{\displaystyle P'_{W}/a'_{LW}}
1:
3230:Schumacher, Reinhard (2012).
3148:Business and economics portal
1208:{\displaystyle \textstyle RS}
1183:{\displaystyle \textstyle RD}
995:{\displaystyle a_{LC}/a_{LW}}
288:consisting of two countries,
5083:Telecommunications equipment
4888:Middle East and North Africa
4879:European Union Customs Union
4342:Journal of Political Economy
4187:. McGraw-Hill. p. 218.
4122:10.1016/0022-1996(95)01383-3
3873:Journal of Political Economy
3610:Journal of Political Economy
540:{\displaystyle \textstyle L}
4812:Andean Community of Nations
4690:Bilateral investment treaty
4658:International Monetary Fund
3295:Steven M Suranovic (2010).
394:units of cloth, or produce
90:
61:or technological progress.
5198:
5177:International trade theory
4678:International Trade Centre
3962:"Putting Ricardo to Work†"
3312:"Ricardo's Difficult Idea"
3156:Bureau of Labor Statistics
3080:Blockade of the Gaza Strip
1190:and world relative supply
5121:
4953:Aircraft & Spacecraft
4598:Foreign exchange reserves
3722:Deardorff, A. V. (2005).
3593:Maneschi, Andrea (1998).
3430:Portugal for that purpose
3215:Maneschi, Andrea (1998).
2540:consumption possibilities
2236:In autarky, Home faces a
347:
334:
329:
326:
4673:World Trade Organization
4478:Ricardo's Difficult Idea
4393:10.1257/0002828053828491
4381:American Economic Review
4085:American Economic Review
3920:10.1257/0002828053828491
3908:American Economic Review
3812:(1): 11–34, March 2005.
3661:American Economic Review
3469:Ingham, Barbara (2004).
3346:Torrens, Robert (1808).
3161:Keynesian beauty contest
4874:Eurasian Economic Union
4762:Repeal of the Corn Laws
4058:. Brighton: Wheatsheaf.
2850:"Comparative advantage"
267:
134:"Comparative advantage"
5162:Microeconomic theories
4916:East African Community
4797:Regional organizations
4474:(original source text)
4026:Oxford Economic Papers
3310:Krugman, Paul (1996).
3059:Earlier empirical work
2984:Alternative approaches
2932:Heckscher–Ohlin models
2780:
2753:
2708:
2529:
2419:
2312:
2227:
2104:
2089:
1968:
1847:
1770:
1649:
1528:
1477:
1426:
1306:
1299:
1298:{\displaystyle RD_{2}}
1269:
1268:{\displaystyle RD_{1}}
1239:
1209:
1184:
1159:
1104:
1077:
1050:
996:
945:
848:
750:
698:
659:
632:
605:
573:
541:
491:mathematical model of
281:
251:
233:
217:
5182:Economics comparisons
4757:The Wealth of Nations
4715:Special economic zone
4578:Comparative advantage
3050:Structural estimation
2781:
2754:
2709:
2542:frontier is given by
2530:
2420:
2313:
2238:production constraint
2228:
2102:
2090:
1969:
1848:
1771:
1650:
1529:
1478:
1427:
1300:
1270:
1240:
1221:
1210:
1185:
1160:
1105:
1103:{\displaystyle P_{W}}
1078:
1076:{\displaystyle P_{C}}
1051:
997:
946:
849:
751:
699:
660:
658:{\displaystyle Q_{C}}
633:
631:{\displaystyle Q_{W}}
606:
574:
542:
432:comparative advantage
275:
249:
207:The Wealth of Nations
31:Comparative advantage
18:Comparative Advantage
4777:Economic nationalism
4695:Economic integration
4414:10.1257/mic.20130126
4249:K., Galbraith, James
4011:The Economic Journal
3996:The Economic Journal
3947:10.1257/mic.20130126
3331:Smith, Adam (1776).
2940:intra-industry trade
2835:improve this article
2763:
2736:
2549:
2436:
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2114:
1981:
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1006:
958:
864:
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711:
673:
642:
615:
583:
551:
529:
119:improve this article
5167:Classical economics
5033:Integrated circuits
4817:Caribbean Community
4613:Net capital outflow
4563:Balance of payments
4544:International trade
4043:. pp. 231–238.
3981:10.1257/jep.26.2.65
3858:FPIF Special Report
3219:. Elgar. p. 1.
2218:
2197:
2055:
2034:
1934:
1913:
1838:
1764:
1743:
1643:
1622:
1523:
1502:
1472:
1451:
1420:
1399:
1045:
1024:
937:
916:
840:
803:
745:
692:
493:international trade
489:general equilibrium
471:free trade than in
315:
241:External Corn Trade
69:international trade
4945:Exports by product
4895:Arab Customs Union
4558:Absolute advantage
4464:2022-07-02 at the
4028:. pp. 275–96.
3778:(2): 141–87, 2007.
3268:O'Sullivan, Arthur
3116:James K. Galbraith
2994:intermediate goods
2952:Gottfried Haberler
2929:factor proportions
2796:Gottfried Haberler
2776:
2759:units of wine and
2749:
2704:
2525:
2415:
2308:
2223:
2203:
2182:
2105:
2085:
2084:
2040:
2019:
1964:
1963:
1919:
1898:
1843:
1842:
1823:
1766:
1765:
1749:
1728:
1645:
1644:
1628:
1607:
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1508:
1490:
1473:
1457:
1439:
1422:
1421:
1405:
1384:
1307:
1295:
1265:
1238:{\displaystyle RS}
1235:
1205:
1204:
1180:
1179:
1155:
1154:
1100:
1073:
1046:
1030:
1009:
992:
941:
922:
901:
844:
825:
788:
746:
730:
694:
693:
677:
655:
628:
601:
600:
569:
568:
537:
536:
412:absolute advantage
313:
282:
252:
202:absolute advantage
85:absolute advantage
81:labor productivity
5149:
5148:
4939:
4938:
4909:Subsaharan Africa
4740:Political economy
3406:978-1-351-68616-7
3377:978-0-85724-062-0
3191:"BLS Information"
3092:Meiji Restoration
2911:
2910:
2903:
2885:
2774:
2747:
1840:
360:
359:
268:Ricardo's example
195:
194:
187:
169:
59:factor endowments
16:(Redirected from
5189:
5139:
5138:
5129:
5128:
4802:
4668:World Bank Group
4568:Balance of trade
4537:
4530:
4523:
4514:
4470:David Ricardo's
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4245:
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4197:. Archived from
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4125:
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3128:constant returns
3121:
3040:unequal treaties
3035:Daniel Bernhofen
3015:Ulysses S. Grant
2956:Victor D. Norman
2936:new trade theory
2922:specific factors
2906:
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2030:
2015:
2014:
2002:
1997:
1996:
1973:
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1965:
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1952:
1947:
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1930:
1918:
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1603:
1602:
1590:
1585:
1584:
1569:
1568:
1559:
1554:
1553:
1533:
1531:
1530:
1525:
1519:
1507:
1498:
1482:
1480:
1479:
1474:
1468:
1456:
1447:
1431:
1429:
1428:
1423:
1416:
1404:
1395:
1380:
1379:
1367:
1362:
1361:
1346:
1345:
1336:
1331:
1330:
1304:
1302:
1301:
1296:
1294:
1293:
1274:
1272:
1271:
1266:
1264:
1263:
1244:
1242:
1241:
1236:
1214:
1212:
1211:
1206:
1189:
1187:
1186:
1181:
1164:
1162:
1161:
1156:
1153:
1152:
1143:
1138:
1137:
1109:
1107:
1106:
1101:
1099:
1098:
1082:
1080:
1079:
1074:
1072:
1071:
1055:
1053:
1052:
1047:
1041:
1029:
1020:
1001:
999:
998:
993:
991:
990:
978:
973:
972:
950:
948:
947:
942:
933:
921:
912:
897:
896:
884:
879:
878:
853:
851:
850:
845:
836:
824:
819:
818:
799:
787:
782:
781:
755:
753:
752:
747:
741:
726:
725:
703:
701:
700:
695:
688:
669:. For instance,
664:
662:
661:
656:
654:
653:
637:
635:
634:
629:
627:
626:
610:
608:
607:
602:
599:
598:
578:
576:
575:
570:
567:
566:
546:
544:
543:
538:
513:Economic Journal
497:Essay on Profits
469:
467:
466:
463:
460:
453:
451:
450:
447:
444:
429:
427:
426:
423:
420:
409:
407:
406:
403:
400:
393:
391:
390:
387:
384:
377:
375:
374:
371:
368:
316:
190:
183:
179:
176:
170:
168:
127:
103:
95:
55:gains from trade
43:opportunity cost
21:
5197:
5196:
5192:
5191:
5190:
5188:
5187:
5186:
5152:
5151:
5150:
5145:
5117:
5063:Pharmaceuticals
4935:
4904:
4883:
4857:
4831:
4791:
4787:Dedollarisation
4734:
4720:Trade agreement
4710:Free-trade zone
4651:
4649:
4642:
4583:Current account
4573:Capital account
4546:
4541:
4466:Wayback Machine
4455:
4450:
4420:
4399:
4378:
4355:10.1.1.194.9649
4339:
4319:(5): 997–1000.
4310:
4306:
4301:
4300:
4279:
4267:
4247:
4246:
4242:
4237:
4233:
4221:
4220:
4216:
4207:
4205:
4201:
4195:
4184:
4177:
4176:
4172:
4163:
4159:
4149:
4148:
4144:
4134:
4133:
4129:
4113:10.1.1.557.8401
4106:(3–4): 201–26.
4097:
4096:
4092:
4082:
4081:
4077:
4060:
4053:
4052:
4048:
4038:
4037:
4033:
4023:
4022:
4018:
4008:
4007:
4003:
3993:
3992:
3988:
3964:
3959:
3958:
3954:
3932:
3931:
3927:
3905:
3904:
3900:
3870:
3869:
3865:
3852:
3851:
3847:
3841:
3837:
3832:
3828:
3823:
3819:
3807:
3800:
3795:
3791:
3786:
3782:
3772:
3768:
3726:
3721:
3720:
3716:
3701:10.2307/1885496
3686:
3685:
3681:
3657:
3656:
3652:
3642:
3641:
3637:
3607:
3606:
3602:
3592:
3591:
3587:
3579:
3575:
3554:(5): 997–1000.
3545:
3544:
3540:
3527:
3526:
3522:
3511:L., G. (2021).
3510:
3509:
3505:
3495:
3494:
3490:
3483:
3468:
3467:
3463:
3456:
3441:
3440:
3436:
3419:
3418:
3414:
3407:
3390:
3389:
3385:
3378:
3363:
3362:
3355:
3345:
3344:
3340:
3330:
3329:
3325:
3316:
3314:
3309:
3308:
3304:
3294:
3293:
3289:
3282:
3266:
3265:
3261:
3256:
3252:
3242:
3229:
3228:
3224:
3214:
3213:
3209:
3200:
3198:
3189:
3188:
3184:
3179:
3146:
3139:
3136:
3119:
3108:Barbara Spencer
3100:
3061:
3052:
3028:
3010:
2986:
2977:
2968:
2915:Ricardian model
2907:
2896:
2890:
2887:
2844:
2842:
2832:
2820:
2809:
2807:Modern theories
2792:
2786:units of wine.
2761:
2760:
2734:
2733:
2729:
2694:
2678:
2660:
2641:
2620:
2607:
2592:
2573:
2552:
2547:
2546:
2509:
2496:
2481:
2465:
2452:
2439:
2434:
2433:
2405:
2389:
2371:
2352:
2331:
2326:
2325:
2289:
2276:
2263:
2250:
2245:
2244:
2167:
2152:
2135:
2117:
2112:
2111:
2074:
2059:
2003:
1985:
1979:
1978:
1953:
1938:
1882:
1864:
1858:
1857:
1810:
1809:
1795:
1786:
1778:
1777:
1715:
1700:
1684:
1666:
1660:
1659:
1591:
1573:
1560:
1545:
1539:
1538:
1485:
1484:
1434:
1433:
1368:
1350:
1337:
1322:
1316:
1315:
1285:
1277:
1276:
1255:
1247:
1246:
1224:
1223:
1192:
1191:
1167:
1166:
1144:
1129:
1123:
1122:
1119:relative supply
1115:relative demand
1090:
1085:
1084:
1063:
1058:
1057:
1004:
1003:
979:
961:
956:
955:
885:
867:
862:
861:
807:
770:
765:
764:
714:
709:
708:
671:
670:
645:
640:
639:
618:
613:
612:
587:
581:
580:
555:
549:
548:
527:
526:
509:William Whewell
485:Ricardian model
481:
479:Ricardian model
464:
461:
458:
457:
455:
448:
445:
442:
441:
439:
424:
421:
418:
417:
415:
404:
401:
398:
397:
395:
388:
385:
382:
381:
379:
372:
369:
366:
365:
363:
324:
321:
279:
277:
270:
191:
180:
174:
171:
128:
126:
116:
104:
93:
28:
23:
22:
15:
12:
11:
5:
5195:
5193:
5185:
5184:
5179:
5174:
5172:Economics laws
5169:
5164:
5154:
5153:
5147:
5146:
5144:
5143:
5133:
5122:
5119:
5118:
5116:
5115:
5110:
5105:
5100:
5095:
5090:
5085:
5080:
5075:
5070:
5065:
5060:
5055:
5050:
5045:
5040:
5035:
5030:
5025:
5020:
5015:
5010:
5005:
5000:
4995:
4990:
4985:
4980:
4975:
4970:
4965:
4960:
4958:Aircraft parts
4955:
4949:
4947:
4941:
4940:
4937:
4936:
4934:
4933:
4928:
4923:
4918:
4912:
4910:
4906:
4905:
4903:
4902:
4897:
4891:
4889:
4885:
4884:
4882:
4881:
4876:
4871:
4865:
4863:
4859:
4858:
4856:
4855:
4850:
4845:
4839:
4837:
4833:
4832:
4830:
4829:
4824:
4819:
4814:
4808:
4806:
4799:
4793:
4792:
4790:
4789:
4784:
4770:
4765:
4744:
4742:
4736:
4735:
4733:
4732:
4727:
4722:
4717:
4712:
4707:
4702:
4697:
4692:
4687:
4682:
4681:
4680:
4670:
4665:
4660:
4654:
4652:
4647:
4644:
4643:
4641:
4640:
4638:Trading nation
4635:
4630:
4625:
4620:
4615:
4610:
4605:
4600:
4595:
4590:
4585:
4580:
4575:
4570:
4565:
4560:
4554:
4552:
4548:
4547:
4542:
4540:
4539:
4532:
4525:
4517:
4511:
4510:
4505:
4500:
4495:
4490:
4485:
4475:
4468:
4454:
4453:External links
4451:
4449:
4448:
4441:
4434:
4431:
4418:
4397:
4376:
4364:10.1086/379944
4337:
4307:
4305:
4302:
4299:
4298:
4265:
4240:
4231:
4214:
4194:978-0070404472
4193:
4170:
4168:, forthcoming.
4157:
4142:
4127:
4090:
4075:
4046:
4031:
4016:
4001:
3986:
3952:
3925:
3914:(1): 208–225.
3898:
3885:10.1086/379944
3863:
3854:Chang, Ha-Joon
3845:
3835:
3826:
3817:
3798:
3789:
3780:
3766:
3737:(5): 1004–16.
3714:
3695:(2): 203–224.
3679:
3650:
3635:
3622:10.1086/260915
3600:
3585:
3573:
3538:
3520:
3503:
3488:
3481:
3461:
3454:
3434:
3421:Ricardo, David
3412:
3405:
3383:
3376:
3353:
3338:
3323:
3302:
3287:
3280:
3259:
3250:
3240:
3222:
3207:
3181:
3180:
3178:
3175:
3174:
3173:
3168:
3166:Resource curse
3163:
3158:
3152:
3151:
3135:
3132:
3099:
3096:
3060:
3057:
3051:
3048:
3027:
3024:
3009:
3006:
2985:
2982:
2976:
2973:
2967:
2964:
2944:Alan Deardorff
2909:
2908:
2823:
2821:
2814:
2808:
2805:
2791:
2788:
2773:
2770:
2746:
2743:
2728:
2727:Terms of trade
2725:
2716:
2715:
2701:
2697:
2693:
2688:
2685:
2681:
2676:
2670:
2667:
2663:
2659:
2656:
2651:
2648:
2644:
2639:
2635:
2632:
2627:
2623:
2619:
2614:
2610:
2605:
2599:
2595:
2591:
2588:
2583:
2580:
2576:
2571:
2567:
2564:
2559:
2555:
2536:
2535:
2524:
2521:
2516:
2512:
2508:
2503:
2499:
2494:
2488:
2484:
2480:
2475:
2472:
2468:
2464:
2459:
2455:
2449:
2446:
2442:
2427:
2426:
2412:
2408:
2404:
2399:
2396:
2392:
2387:
2381:
2378:
2374:
2370:
2367:
2362:
2359:
2355:
2350:
2346:
2343:
2338:
2334:
2319:
2318:
2307:
2304:
2301:
2296:
2292:
2286:
2283:
2279:
2275:
2270:
2266:
2260:
2257:
2253:
2234:
2233:
2222:
2217:
2213:
2210:
2206:
2201:
2196:
2192:
2189:
2185:
2180:
2174:
2170:
2165:
2159:
2155:
2150:
2145:
2142:
2138:
2133:
2127:
2124:
2120:
2097:
2096:
2081:
2077:
2072:
2066:
2062:
2058:
2054:
2050:
2047:
2043:
2038:
2033:
2029:
2026:
2022:
2018:
2013:
2010:
2006:
2001:
1995:
1992:
1988:
1975:
1960:
1956:
1951:
1945:
1941:
1937:
1933:
1929:
1926:
1922:
1917:
1912:
1908:
1905:
1901:
1897:
1892:
1889:
1885:
1880:
1874:
1871:
1867:
1854:
1837:
1833:
1830:
1826:
1821:
1816:
1813:
1805:
1802:
1798:
1793:
1789:
1763:
1759:
1756:
1752:
1747:
1742:
1738:
1735:
1731:
1727:
1722:
1718:
1713:
1707:
1703:
1699:
1694:
1691:
1687:
1682:
1676:
1673:
1669:
1656:
1642:
1638:
1635:
1631:
1626:
1621:
1617:
1614:
1610:
1606:
1601:
1598:
1594:
1589:
1583:
1580:
1576:
1572:
1567:
1563:
1558:
1552:
1548:
1535:
1522:
1518:
1515:
1511:
1506:
1501:
1497:
1493:
1471:
1467:
1464:
1460:
1455:
1450:
1446:
1442:
1419:
1415:
1412:
1408:
1403:
1398:
1394:
1391:
1387:
1383:
1378:
1375:
1371:
1366:
1360:
1357:
1353:
1349:
1344:
1340:
1335:
1329:
1325:
1292:
1288:
1284:
1262:
1258:
1254:
1234:
1231:
1203:
1200:
1178:
1175:
1151:
1147:
1142:
1136:
1132:
1097:
1093:
1070:
1066:
1044:
1040:
1037:
1033:
1028:
1023:
1019:
1016:
1012:
989:
986:
982:
977:
971:
968:
964:
952:
951:
940:
936:
932:
929:
925:
920:
915:
911:
908:
904:
900:
895:
892:
888:
883:
877:
874:
870:
855:
854:
843:
839:
835:
832:
828:
823:
817:
814:
810:
806:
802:
798:
795:
791:
786:
780:
777:
773:
744:
740:
737:
733:
729:
724:
721:
717:
691:
687:
684:
680:
652:
648:
625:
621:
597:
594:
590:
565:
562:
558:
535:
480:
477:
358:
357:
354:
351:
345:
344:
341:
338:
332:
331:
328:
325:
322:
319:
269:
266:
221:Robert Torrens
193:
192:
107:
105:
98:
92:
89:
35:economic model
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
5194:
5183:
5180:
5178:
5175:
5173:
5170:
5168:
5165:
5163:
5160:
5159:
5157:
5142:
5134:
5132:
5124:
5123:
5120:
5114:
5111:
5109:
5106:
5104:
5101:
5099:
5096:
5094:
5091:
5089:
5086:
5084:
5081:
5079:
5076:
5074:
5071:
5069:
5068:Photovoltaics
5066:
5064:
5061:
5059:
5056:
5054:
5051:
5049:
5046:
5044:
5041:
5039:
5036:
5034:
5031:
5029:
5026:
5024:
5021:
5019:
5016:
5014:
5011:
5009:
5006:
5004:
5001:
4999:
4996:
4994:
4991:
4989:
4986:
4984:
4981:
4979:
4976:
4974:
4971:
4969:
4966:
4964:
4961:
4959:
4956:
4954:
4951:
4950:
4948:
4946:
4942:
4932:
4929:
4927:
4924:
4922:
4919:
4917:
4914:
4913:
4911:
4907:
4901:
4898:
4896:
4893:
4892:
4890:
4886:
4880:
4877:
4875:
4872:
4870:
4867:
4866:
4864:
4860:
4854:
4851:
4849:
4846:
4844:
4841:
4840:
4838:
4834:
4828:
4825:
4823:
4820:
4818:
4815:
4813:
4810:
4809:
4807:
4803:
4800:
4798:
4794:
4788:
4785:
4782:
4778:
4774:
4773:Protectionism
4771:
4769:
4766:
4763:
4759:
4758:
4753:
4749:
4746:
4745:
4743:
4741:
4737:
4731:
4728:
4726:
4725:Trade barrier
4723:
4721:
4718:
4716:
4713:
4711:
4708:
4706:
4703:
4701:
4698:
4696:
4693:
4691:
4688:
4686:
4683:
4679:
4676:
4675:
4674:
4671:
4669:
4666:
4664:
4661:
4659:
4656:
4655:
4653:
4648:Organizations
4645:
4639:
4636:
4634:
4631:
4629:
4628:Trade justice
4626:
4624:
4621:
4619:
4616:
4614:
4611:
4609:
4606:
4604:
4603:Globalization
4601:
4599:
4596:
4594:
4591:
4589:
4586:
4584:
4581:
4579:
4576:
4574:
4571:
4569:
4566:
4564:
4561:
4559:
4556:
4555:
4553:
4549:
4545:
4538:
4533:
4531:
4526:
4524:
4519:
4518:
4515:
4509:
4506:
4504:
4501:
4499:
4496:
4494:
4491:
4489:
4486:
4483:
4479:
4476:
4473:
4469:
4467:
4463:
4460:
4457:
4456:
4452:
4446:
4442:
4439:
4435:
4432:
4428:
4424:
4419:
4415:
4411:
4407:
4403:
4398:
4394:
4390:
4387:(1): 208–25.
4386:
4382:
4377:
4373:
4369:
4365:
4361:
4356:
4351:
4347:
4343:
4338:
4334:
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4318:
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4309:
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4294:
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4284:
4276:
4272:
4268:
4266:9781416566830
4262:
4258:
4254:
4250:
4244:
4241:
4235:
4232:
4227:
4226:
4218:
4215:
4204:on 2015-01-31
4200:
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4146:
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4109:
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4065:
4057:
4050:
4047:
4042:
4035:
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4027:
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4017:
4012:
4005:
4002:
3997:
3990:
3987:
3982:
3978:
3974:
3970:
3963:
3956:
3953:
3948:
3944:
3940:
3936:
3929:
3926:
3921:
3917:
3913:
3909:
3902:
3899:
3894:
3890:
3886:
3882:
3878:
3874:
3867:
3864:
3859:
3855:
3849:
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3830:
3827:
3821:
3818:
3815:
3811:
3805:
3803:
3799:
3793:
3790:
3784:
3781:
3777:
3770:
3767:
3762:
3758:
3753:
3752:2027.42/73670
3748:
3744:
3740:
3736:
3732:
3725:
3718:
3715:
3710:
3706:
3702:
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3694:
3690:
3683:
3680:
3675:
3671:
3668:(5): 823–39.
3667:
3663:
3662:
3654:
3651:
3646:
3639:
3636:
3631:
3627:
3623:
3619:
3616:(5): 941–57.
3615:
3611:
3604:
3601:
3596:
3589:
3586:
3583:
3577:
3574:
3569:
3565:
3561:
3557:
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3542:
3539:
3535:. 2016-09-28.
3534:
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3482:9780273655077
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3283:
3281:9780130630858
3277:
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3260:
3254:
3251:
3247:
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3241:9783869561950
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3112:
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3104:James Brander
3097:
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2957:
2953:
2949:
2948:Avinash Dixit
2945:
2941:
2937:
2933:
2930:
2926:
2925:Ricardo-Viner
2923:
2920:
2916:
2905:
2902:
2894:
2883:
2880:
2876:
2873:
2869:
2866:
2862:
2859:
2855:
2852: –
2851:
2847:
2846:Find sources:
2840:
2836:
2830:
2829:
2824:This section
2822:
2818:
2813:
2812:
2806:
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2800:
2797:
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2131:
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2110:
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2079:
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2064:
2060:
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2048:
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2041:
2036:
2031:
2027:
2024:
2020:
2016:
2011:
2008:
2004:
1999:
1993:
1990:
1986:
1976:
1958:
1954:
1949:
1943:
1939:
1935:
1931:
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1120:
1116:
1111:
1095:
1091:
1068:
1064:
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1038:
1035:
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1026:
1021:
1017:
1014:
1010:
987:
984:
980:
975:
969:
966:
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938:
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927:
923:
918:
913:
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893:
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886:
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872:
868:
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859:
858:
841:
837:
833:
830:
826:
821:
815:
812:
808:
804:
800:
796:
793:
789:
784:
778:
775:
771:
763:
762:
761:
759:
742:
738:
735:
731:
727:
722:
719:
715:
705:
689:
685:
682:
678:
668:
650:
646:
623:
619:
595:
592:
588:
563:
560:
556:
533:
524:
519:
516:
514:
510:
506:
505:David Ricardo
502:
498:
494:
490:
486:
478:
476:
474:
435:
433:
413:
355:
352:
350:
346:
342:
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333:
318:
317:
311:
309:
305:
301:
300:
295:
291:
287:
286:world economy
274:
265:
263:
262:
257:
256:David Ricardo
250:David Ricardo
248:
244:
242:
238:
232:
230:
224:
222:
216:
211:
209:
208:
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199:
189:
186:
178:
167:
164:
160:
157:
153:
150:
146:
143:
139:
136: –
135:
131:
130:Find sources:
124:
120:
114:
113:
108:This section
106:
102:
97:
96:
88:
86:
82:
78:
74:
70:
66:
65:David Ricardo
62:
60:
56:
52:
51:marginal cost
48:
44:
40:
36:
32:
19:
5043:Live animals
5023:Gas turbines
4836:Asia-Pacific
4768:Mercantilism
4755:
4650:and policies
4577:
4482:Paul Krugman
4444:
4437:
4426:
4422:
4408:(4): 54–90.
4405:
4401:
4384:
4380:
4348:(1): 48–67.
4345:
4341:
4316:
4312:
4304:Bibliography
4252:
4243:
4234:
4223:
4217:
4206:. Retrieved
4199:the original
4180:
4173:
4165:
4160:
4151:
4145:
4136:
4130:
4103:
4099:
4093:
4084:
4078:
4055:
4049:
4040:
4034:
4025:
4019:
4010:
4004:
3995:
3989:
3975:(2): 65–90.
3972:
3968:
3955:
3941:(4): 54–90.
3938:
3934:
3928:
3911:
3907:
3901:
3879:(1): 48–67.
3876:
3872:
3866:
3857:
3848:
3838:
3829:
3820:
3809:
3792:
3783:
3775:
3769:
3734:
3730:
3717:
3692:
3688:
3682:
3665:
3659:
3653:
3644:
3638:
3613:
3609:
3603:
3594:
3588:
3581:
3576:
3551:
3547:
3541:
3532:
3523:
3513:
3506:
3497:
3491:
3471:
3464:
3444:
3437:
3428:
3424:
3415:
3396:
3386:
3366:
3347:
3341:
3332:
3326:
3315:. Retrieved
3305:
3290:
3271:
3262:
3253:
3245:
3231:
3225:
3216:
3210:
3199:. Retrieved
3194:
3185:
3113:
3101:
3077:
3073:
3069:
3066:
3062:
3053:
3044:
3033:
3029:
3011:
3002:
2998:
2987:
2978:
2969:
2959:
2928:
2921:
2919:neoclassical
2912:
2897:
2888:
2878:
2871:
2864:
2857:
2845:
2833:Please help
2828:verification
2825:
2801:
2793:
2730:
2721:
2717:
2539:
2537:
2428:
2320:
2240:of the form
2235:
2106:
1308:
1118:
1114:
1112:
1002:in Home and
953:
856:
757:
706:
520:
517:
512:
500:
496:
484:
482:
436:
431:
411:
361:
348:
335:
297:
283:
259:
253:
240:
236:
234:
226:
218:
213:
205:
201:
196:
181:
172:
162:
155:
148:
141:
129:
117:Please help
112:verification
109:
72:
63:
30:
29:
5048:Natural gas
5013:Electronics
5008:Electricity
4618:Outsourcing
4551:Terminology
3090:during the
2719:economies.
77:free market
5156:Categories
5088:Telephones
4752:Adam Smith
4748:Free trade
4730:Trade bloc
4705:ATA Carnet
4593:Fair trade
4208:2014-08-13
3317:2014-08-09
3201:2009-05-05
3177:References
3124:neoliberal
3088:free trade
2861:newspapers
758:relatively
501:Principles
229:broadcloth
198:Adam Smith
145:newspapers
4983:Computers
4968:Car parts
4963:Aluminium
4700:Incoterms
4633:Trade war
4429:: 514–17.
4350:CiteSeerX
4283:cite book
4275:192109752
4108:CiteSeerX
4064:cite book
3098:Criticism
3019:empirical
2891:July 2021
2655:−
2631:≥
2587:−
2520:≤
2366:−
2300:≤
2179:≤
2149:≤
254:In 1817,
175:July 2021
5131:Category
5103:Vehicles
5093:Textiles
5038:Iron ore
5003:Diamonds
4827:Mercosur
4805:Americas
4462:Archived
4372:17377670
4251:(2008).
3893:17377670
3761:29501533
3630:58917101
3423:(1817).
3195:Glossary
3134:See also
2216:′
2195:′
2053:′
2032:′
1932:′
1911:′
1836:′
1815:′
1762:′
1741:′
1641:′
1620:′
1521:′
1500:′
1470:′
1449:′
1418:′
1397:′
1215:curves.
1043:′
1022:′
935:′
914:′
838:′
801:′
743:′
690:′
349:Portugal
299:a priori
290:Portugal
5141:Commons
5018:Engines
4781:Autarky
4440:3rd ed.
4333:9787214
3709:1885496
3674:1828066
3582:Pearson
3568:9787214
3084:autarky
2875:scholar
473:autarky
468:
456:
452:
440:
428:
416:
408:
396:
392:
380:
376:
364:
336:England
323:Country
320:Produce
294:England
159:scholar
47:autarky
5098:Trucks
5058:Petrol
4998:Cotton
4988:Copper
4978:Coffee
4623:Tariff
4370:
4352:
4331:
4273:
4263:
4191:
4110:
3891:
3759:
3707:
3672:
3628:
3566:
3479:
3452:
3403:
3374:
3278:
3238:
3120:
2954:, and
2877:
2870:
2863:
2856:
2848:
523:mobile
327:Cloth
161:
154:
147:
140:
132:
33:in an
5108:Wheat
5078:Steel
5073:Ships
4368:S2CID
4329:S2CID
4202:(PDF)
4185:(PDF)
3965:(PDF)
3889:S2CID
3843:2016.
3757:S2CID
3727:(PDF)
3705:JSTOR
3670:JSTOR
3626:S2CID
3564:S2CID
2882:JSTOR
2868:books
667:prime
487:is a
330:Wine
308:cloth
166:JSTOR
152:books
73:every
5113:Wine
5028:Gold
4993:Corn
4973:Coal
4293:link
4289:link
4271:OCLC
4261:ISBN
4189:ISBN
4070:link
3477:ISBN
3450:ISBN
3401:ISBN
3372:ISBN
3276:ISBN
3236:ISBN
3106:and
2960:tend
2854:news
2017:<
1936:<
1896:<
1726:<
1698:<
1605:<
1571:<
1382:<
1275:and
1117:(or
899:<
805:<
728:<
638:and
483:The
343:120
340:100
306:and
304:wine
292:and
138:news
39:good
5053:Oil
4410:doi
4389:doi
4360:doi
4346:112
4321:doi
4118:doi
3977:doi
3943:doi
3916:doi
3881:doi
3877:112
3747:hdl
3739:doi
3697:doi
3618:doi
3556:doi
3086:to
2837:by
1977:If
1856:If
1658:If
1537:If
1314:If
454:to
356:80
353:90
121:by
45:or
5158::
4779:,
4760:,
4754:,
4480:,
4425:.
4404:.
4385:95
4383:.
4366:.
4358:.
4344:.
4327:.
4317:13
4315:.
4285:}}
4281:{{
4269:.
4259:.
4257:70
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4066:}}
4062:{{
3973:26
3971:.
3967:.
3937:.
3912:95
3910:.
3887:.
3875:.
3810:16
3801:^
3755:.
3745:.
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3733:.
3729:.
3703:.
3693:95
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3666:67
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3624:.
3614:88
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3562:.
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2950:,
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3741::
3711:.
3699::
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3458:.
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3335:.
3320:.
3299:.
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2898:(
2893:)
2889:(
2879:·
2872:·
2865:·
2858:·
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2252:a
2221:.
2212:W
2209:L
2205:a
2200:/
2191:C
2188:L
2184:a
2173:W
2169:P
2164:/
2158:C
2154:P
2144:W
2141:L
2137:a
2132:/
2126:C
2123:L
2119:a
2080:W
2076:P
2071:/
2065:C
2061:P
2057:=
2049:W
2046:L
2042:a
2037:/
2028:C
2025:L
2021:a
2012:W
2009:L
2005:a
2000:/
1994:C
1991:L
1987:a
1959:W
1955:P
1950:/
1944:C
1940:P
1928:W
1925:L
1921:a
1916:/
1907:C
1904:L
1900:a
1891:W
1888:L
1884:a
1879:/
1873:C
1870:L
1866:a
1832:W
1829:L
1825:a
1820:/
1812:L
1804:C
1801:L
1797:a
1792:/
1788:L
1758:W
1755:L
1751:a
1746:/
1737:C
1734:L
1730:a
1721:W
1717:P
1712:/
1706:C
1702:P
1693:W
1690:L
1686:a
1681:/
1675:C
1672:L
1668:a
1637:W
1634:L
1630:a
1625:/
1616:C
1613:L
1609:a
1600:W
1597:L
1593:a
1588:/
1582:C
1579:L
1575:a
1566:W
1562:P
1557:/
1551:C
1547:P
1517:C
1514:L
1510:a
1505:/
1496:C
1492:P
1466:W
1463:L
1459:a
1454:/
1445:W
1441:P
1414:W
1411:L
1407:a
1402:/
1393:C
1390:L
1386:a
1377:W
1374:L
1370:a
1365:/
1359:C
1356:L
1352:a
1348:=
1343:W
1339:P
1334:/
1328:C
1324:P
1291:2
1287:D
1283:R
1261:1
1257:D
1253:R
1233:S
1230:R
1202:S
1199:R
1177:D
1174:R
1150:W
1146:P
1141:/
1135:C
1131:P
1096:W
1092:P
1069:C
1065:P
1039:W
1036:L
1032:a
1027:/
1018:C
1015:L
1011:a
988:W
985:L
981:a
976:/
970:C
967:L
963:a
939:.
931:W
928:L
924:a
919:/
910:C
907:L
903:a
894:W
891:L
887:a
882:/
876:C
873:L
869:a
842:.
834:W
831:L
827:a
822:/
816:W
813:L
809:a
797:C
794:L
790:a
785:/
779:C
776:L
772:a
739:C
736:L
732:a
723:C
720:L
716:a
686:W
683:L
679:a
651:C
647:Q
624:W
620:Q
596:C
593:L
589:a
564:W
561:L
557:a
534:L
465:8
462:/
459:9
449:6
446:/
443:5
425:9
422:/
405:8
402:/
389:9
386:/
373:6
370:/
367:5
188:)
182:(
177:)
173:(
163:·
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149:·
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115:.
20:)
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