David Ricardo, Robert Torrens and the Origins of the Principle of Comparative Advantage
AbstractThe authorship of the principle of comparative advantage is generally credited to David Ricardo. Recent papers published in scientific journals have cast doubt on this axiom and have debated roles of Robert Torrens, James Mill and John Stuart Mill in its history. We show many of the arguments used in this debate are unscientific and unverifiable. After conducting an analysis of the history of development of the principle we define the difference between minimum satisfactory and complex formulation of the principle. We come to the conclusion that the first satisfactory explanation of comparative advantage was offered by Robert Torrens.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Politická ekonomie.
Volume (Year): 2012 (2012)
Issue (Month): 3 ()
Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
- F10 - International Economics - - Trade - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Maneschi, Andrea, 2004. "The true meaning of David Ricardo's four magic numbers," Journal of International Economics, Elsevier, vol. 62(2), pages 433-443, March.
- William O. Thweatt, 1976. "James Mill and the Early Development of Comparative Advantage," History of Political Economy, Duke University Press, vol. 8(2), pages 207-234, Summer.
- Aldrich, John, 2004. "The Discovery of Comparative Advantage," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(03), pages 379-399, September.
- Roy J. Ruffin, 2002. "David Ricardo's Discovery of Comparative Advantage," History of Political Economy, Duke University Press, vol. 34(4), pages 727-748, Winter.
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