Sonntag, 9. Juni 2013

Ricardo is dead

Disclaimer: The article was written both from a perspective of a developed country and a devoloping country. Maria Farooq, Ole Wintermann

One Dimensional Perspectives: A Risk for Globalisation?
The 250 year old thesis is that globalization is a win-win-situation. The reason for that is the specialization of every country on it´s comparative advantages. David Ricardo was the first economist to describe this theorem. So in theory every country gets money out of that global trade. Imagine that there is a theory that should be still feasible and that should still be a starting point for explaining today’s globalized trade. Is that realistic or should we questioning this old thesis. We want to argue for more empirical evidence.

“Free Trade of the Americas” by Quim Gil, CC BY-SA 2.0