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David Ricardo, Robert Torrens a autorstvo princípu komparatívnych výhod
[David Ricardo, Robert Torrens and the Origins of the Principle of Comparative Advantage]

Author

Listed:
  • Martin Grančay
  • Nóra Szikorová

Abstract

The 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.

Suggested Citation

  • Martin Grančay & Nóra Szikorová, 2012. "David Ricardo, Robert Torrens a autorstvo princípu komparatívnych výhod [David Ricardo, Robert Torrens and the Origins of the Principle of Comparative Advantage]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(3), pages 380-394.
    • Handle: RePEc:prg:jnlpol:v:2012:y:2012:i:3:id:847:p:380-394
    DOI: 10.18267/j.polek.847
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    References listed on IDEAS

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    1. Leonard Gomes, 1987. "Foreign Trade and the National Economy," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-08992-5.
    2. 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.
    3. 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.
    4. 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.
    5. Piero Sraffa & L. Einaudi, 1930. "An Alleged Correction of Ricardo," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 44(3), pages 539-545.
    6. Aldrich, John, 2004. "The Discovery of Comparative Advantage," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(3), pages 379-399, September.
    7. Andrea Maneschi, 1998. "Comparative Advantage in International Trade," Books, Edward Elgar Publishing, number 856.
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    More about this item

    Keywords

    18th century rule; comparative advantage; relative costs; history of economic science; economics of 19th century;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • F10 - International Economics - - Trade - - - General

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