A Ricardo-Sraffa Paradigm Comparing Gains from Trade in Inputs and Finished Goods
AbstractHere is how the 1817 Ricardo comparative advantage trade benefit analysis has to be modified to take account of post-1960 Sraffian benefits from capital-using technologies. By bringing J. S. Mill's demand model up to date in terms of its implicit geometric-mean money-metric utility, specific measurements for real net national product are calculated to partition sources of welfare gains (from output enhancements and taste-preference accommodations) in scenarios of (1) trade between equals, (2) trade between poor and rich nations, and (3) for biased inventions that enable a poor country to take over production of items in which formerly the rich place enjoyed comparative advantage. History of economic doctrine is mined to advance today's frontier of scientific knowledge--a forward-looking function for "Whig history."
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Bibliographic InfoArticle provided by American Economic Association in its journal Journal of Economic Literature.
Volume (Year): 39 (2001)
Issue (Month): 4 (December)
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- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
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- Wilhelm Kohler, 2002. "The Distributional Effects of International Fragmentation," Economics working papers 2002_01, Department of Economics, Johannes Kepler University Linz, Austria.
- Wilhelm Kohler, 2003. "The Distributional Effects of International Fragmentation," German Economic Review, Verein für Socialpolitik, vol. 4(1), pages 89-120, February.
- Kwok Tong Soo, 2006. "What does the eclectic trade model say about the Samuelson conundrum?," Working Papers 578283, Lancaster University Management School, Economics Department.
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