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Trade, People and Places: A Social Economic-Geographic Approach to Comparative Institutional Advantage

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  • Geoffrey Schneider
  • Paul Susman

Abstract

This paper examines the theoretical underpinning of contemporary trade policies through a social economics lens. The paper offers a social economic critique of the theory of comparative advantage and the recently developed theory of comparative institutional advantage. Subsequently, the paper develops a more comprehensive and general theory of comparative institutional advantage consistent with the principles and methodology of social economics. Furthermore, it suggests ways in which this social economic-geographic version of the theory of comparative institutional advantage can be used in the construction of trade policies which are more likely to have a beneficial impact on the welfare of communities and to foster the fulfilling of human needs and potential. This version of the theory serves to reorient the focus of economic policy to the welfare of the community and the income-generating possibilities of trade. And it serves as a superior guide to policymaking because it is better able to define the root causes of regional success than standard trade theories.

Suggested Citation

  • Geoffrey Schneider & Paul Susman, 2008. "Trade, People and Places: A Social Economic-Geographic Approach to Comparative Institutional Advantage," Review of Social Economy, Taylor & Francis Journals, vol. 66(4), pages 469-499.
  • Handle: RePEc:taf:rsocec:v:66:y:2008:i:4:p:469-499
    DOI: 10.1080/00346760801932684
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    References listed on IDEAS

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    1. Scott, Allen J. (ed.), 2001. "Global City-Regions: Trends, Theory, Policy," OUP Catalogue, Oxford University Press, number 9780198297994.
    2. Jagdish N. Bhagwati, 2004. "In Defense of Globalization: It Has a Human Face," Rivista di Politica Economica, SIPI Spa, vol. 94(6), pages 9-20, November-.
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    Cited by:

    1. Geoffrey Schneider, 2008. "Comparative Institutional Advantage and the Appropriate Development Model for Sub-Saharan Africa," Forum for Social Economics, Taylor & Francis Journals, vol. 37(2), pages 115-124, January.
    2. Geoffrey Schneider & Paul Susman, 2010. "Uneven Development and Grounded Comparative Institutional Advantage: Lessons from Sweden and Mondragon," Forum for Social Economics, Springer;The Association for Social Economics, vol. 39(1), pages 1-11, April.
    3. Escobal, Javier & Favareto, Arilson & Aguirre, Francisco & Ponce, Carmen, 2015. "Linkage to Dynamic Markets and Rural Territorial Development in Latin America," World Development, Elsevier, vol. 73(C), pages 44-55.

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