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Why comparative advantage is a problematic guide to practical policy

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  • Sherman Xie

Abstract

Previous criticisms of comparative advantage theory have mainly stressed the inapplicability of its theoretical assumptions. This article focuses on the dilemma involved in using it as a guide to practical policy. Since its inception, comparative advantage theory has gradually split into two schools, representing two ways of thinking and two methodologies. Economic policy based on comparative advantage may succeed in the short run but fail in the long run, because the development model based on this approach has an inherent destructive mechanism.

Suggested Citation

  • Sherman Xie, 2019. "Why comparative advantage is a problematic guide to practical policy," Economic Affairs, Wiley Blackwell, vol. 39(2), pages 243-250, June.
    • Handle: RePEc:bla:ecaffa:v:39:y:2019:i:2:p:243-250
    DOI: 10.1111/ecaf.12347
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    Cited by:

    1. Toraubally, Waseem A., 2022. "Strategic trading and Ricardian comparative advantage," Journal of Economic Behavior & Organization, Elsevier, vol. 195(C), pages 428-447.
    2. Sherman Xie & Lin Xia, 2022. "Advantage integration: A methodological framework for growth and development," Review of Development Economics, Wiley Blackwell, vol. 26(3), pages 1393-1410, August.
    3. Erokhin, Vasilii & Ivolga, Anna & Lazareva, Natalia & Germanova, Victoria & Igonina, Elena & Sofin, Alexander, 2024. "China—Eastern Europe Agricultural Trade: (Dis)Advantages and Policy Responses," Research on World Agricultural Economy, Nan Yang Academy of Sciences Pte Ltd (NASS), vol. 5(2), June.

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