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Title: Did Ricardo Really Have a Law of Comparative Advantage? A Comparison of Ricardo's Version and the Modern Version
Contributor(s): Pullen, John Michael  (author)
Publication Date: 2006
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Abstract: This article compares Ricardo's statements on the Law of Comparative Advantage (LCA) with modern versions. It interprets Ricardo's LCA as a practical guide or as a piece of useful commercial advice for commodity traders, and argues that, contrary to modern versions, Ricardo's LCA does not constitute a logical basis for international specialisation of production. It contends that Ricardo's case for international specialisation is based on absolute advantage, not comparative advantage. It concludes that, if 'LCA' is taken to mean the LCA as found in modern textbooks, then Ricardo did not have a Law of Comparative Advantage.
Publication Type: Journal Article
Source of Publication: History of Economics Review, 44(Summer), p. 59-75
Publisher: History of Economic Thought Society of Australia
Place of Publication: Australia
ISSN: 1037-0196
Field of Research (FOR): 130313 Teacher Education and Professional Development of Educators
Socio-Economic Outcome Codes: 930299 Teaching and Instruction not elsewhere classified
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
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