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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.


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