Why Ricardo’s Theory of Comparative Advantage Regarding Foreign Trade Doesn’t Work in Today’s Global Economy
This article first analyzes Ricardo’s theorem, not just his argument in favor of comparative advantage, but also the conditions that are necessary for the theory to work, namely, that capital is loyal to the country of origin and that currencies will adjust to level out imbalances in trade. It then...
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| Format: | Article |
| Language: | English |
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University of Bologna
2020-05-01
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| Series: | University of Bologna Law Review |
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| Online Access: | https://bolognalawreview.unibo.it/article/view/10881 |