The Basis for the International Division of Labor and International Trade Is Absolute Rather than Comparative Advantage: Theory and Empirical Evidence
According to the general consensus in academia, Ricardo’s theory of international trade embodies the theory of comparative advantage. The principle of comparative advantage he proposed, based on the model of physical trade and employing comparative cost analysis, holds that comparative advantage rat...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Pluto Journals
2024-10-01
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| Series: | World Review of Political Economy |
| Online Access: | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.15.3.0002 |
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