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Comparative Advantage and Free Trade

In: Trade, Planning and Rural Development

Author

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  • Paul Streeten

Abstract

In reply to the question whether there exists in economics a set of propositions that is both true and non-trivial, the great M.I.T.-WIT (the opposite of NIT-WIT) Paul Samuelson is reported to have said: the doctrine of comparative advantage. In spite of its venerable age, there are many politicians, officials and common men and women who have not grasped it. Even that great institution of trade liberalisation, the General Agreement on Tariffs and Trade, approaches trade negotiations as if admitting more imports were a concession and removing protection a sacrifice.

Suggested Citation

  • Paul Streeten, 1990. "Comparative Advantage and Free Trade," Palgrave Macmillan Books, in: Azizur Rahman Khan & Rehman Sobhan (ed.), Trade, Planning and Rural Development, chapter 4, pages 36-52, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11415-3_5
    DOI: 10.1007/978-1-349-11415-3_5
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    Citations

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    Cited by:

    1. Shafaeddin, Mehdi, 2006. "Does trade openness helps or hinders industrialization?," MPRA Paper 4371, University Library of Munich, Germany.
    2. Shafaeddin, Mehdi, 2009. "Impact of Selectivity and Neutrality of trade Policy Incentives on Industrialization of Developing Countries; Implications for NAMA Negotiations," MPRA Paper 15037, University Library of Munich, Germany.
    3. Weller, Jürgen, 2001. "Economic reforms, growth and employment: labour markets in Latin America and the Caribbean," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2273 edited by Eclac.
    4. Mehdi SHAFAEDDIN, 2001. "Free Trade Or Fair Trade? An Enquiry Into The Causes Of Failure In Recent Trade Negotiations," UNCTAD Discussion Papers 153, United Nations Conference on Trade and Development.

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