International trade theory is still relevant
It has become common place to argue that the theory of comparative advantage and international trade is no longer relevant to the realities of the world economy and that concepts such as free trade versus protectionism are outdated. It is the contention of this paper, however, that international the...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-10-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12874 |
| _version_ | 1828042320326426624 |
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| author | T.D. WILLETT |
| author_facet | T.D. WILLETT |
| author_sort | T.D. WILLETT |
| collection | DOAJ |
| description | It has become common place to argue that the theory of comparative advantage and international trade is no longer relevant to the realities of the world economy and that concepts such as free trade versus protectionism are outdated. It is the contention of this paper, however, that international theory still has much to offer as a guide for policy. The author argues that, despite profound changes and new trends in the world economy, international trade theory has not lost its relevance and that the presumption which may be derived from it in favour of free international exchange as a general policy remains a wise basis for international trade and investment policy in the 1970s.
JEL: F10, F13, F21
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| first_indexed | 2024-04-10T17:29:38Z |
| format | Article |
| id | doaj.art-ce62c3349f5645e784a64debe545fade |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:29:38Z |
| publishDate | 2014-10-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-ce62c3349f5645e784a64debe545fade2023-02-03T16:49:41ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432014-10-01249810.13133/2037-3643/12874International trade theory is still relevantT.D. WILLETTIt has become common place to argue that the theory of comparative advantage and international trade is no longer relevant to the realities of the world economy and that concepts such as free trade versus protectionism are outdated. It is the contention of this paper, however, that international theory still has much to offer as a guide for policy. The author argues that, despite profound changes and new trends in the world economy, international trade theory has not lost its relevance and that the presumption which may be derived from it in favour of free international exchange as a general policy remains a wise basis for international trade and investment policy in the 1970s. JEL: F10, F13, F21 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12874Comparative advantageinternational tradeprotectionismpolicyexchangeinvestment |
| spellingShingle | T.D. WILLETT International trade theory is still relevant PSL Quarterly Review Comparative advantage international trade protectionism policy exchange investment |
| title | International trade theory is still relevant |
| title_full | International trade theory is still relevant |
| title_fullStr | International trade theory is still relevant |
| title_full_unstemmed | International trade theory is still relevant |
| title_short | International trade theory is still relevant |
| title_sort | international trade theory is still relevant |
| topic | Comparative advantage international trade protectionism policy exchange investment |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12874 |
| work_keys_str_mv | AT tdwillett internationaltradetheoryisstillrelevant |