The theory of comparative advantage suggests that a country should specialize in production of a good or services in which it has a comparative advantage. This would mean that United States should ...

World Review of Political Economy, Vol. 15, No. 3 (Fall 2024), pp. 338-373 (36 pages) According to the general consensus in academia, Ricardo’s theory of international trade embodies the theory of ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

As a trade economist, I was surprised to learn from Michael Pettis’s article (“No, trade surpluses aren’t caused by comparative advantage”, FT Alphaville, FT.com, May 28) how poorly we economists ...

This is a preview. Log in through your library . Abstract Most of the literature on international trade under uncertainty has focused on technological uncertainty. The present paper, in contrast, ...