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“Protection And Real Wages”: The History Of An Idea

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  • RONALD W JONES

Abstract

Few economics articles have achieved the celebrity that still attaches to the paper, “Protection and Real Wages”, by Wolfgang Stolper and Paul Samuelson in (1941). In this paper I discuss how the Stolper‐Samuelson theorem has been re‐interpreted over subsequent decades, and how attempts to generalize the theorem to higher dimensions have met with qualified results. The theorem leads to a simple proposition in political economy: in competitive models any productive factor can have its real return increased by a non‐transparent policy whereby relative commodity prices are altered if there are enough commodities and joint production, is not too severe.

Suggested Citation

  • Ronald W Jones, 2006. "“Protection And Real Wages”: The History Of An Idea," The Japanese Economic Review, Japanese Economic Association, vol. 57(4), pages 457-466, December.
    • Handle: RePEc:bla:jecrev:v:57:y:2006:i:4:p:457-466
    DOI: 10.1111/j.1468-5876.2006.00396.x
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    Cited by:

    1. Mitra, Tapan, 2007. "On Commodity Prices and Factor Rewards: A Close Look at Sign Patterns," Working Papers 07-07, Cornell University, Center for Analytic Economics.
    2. Mukherjee, Soumyatanu & Zafar, Sameen, 2014. "Technological progress with segmented factor markets and welfare implications for the urban poor," MPRA Paper 55297, University Library of Munich, Germany.
    3. Ronald W. Jones, 2018. "On Blending Competitive Trade Models," World Scientific Book Chapters, in: International Trade Theory and Competitive Models Features, Values, and Criticisms, chapter 19, pages 319-361, World Scientific Publishing Co. Pte. Ltd..
    4. Mukherjee, Soumyatanu, 2016. "Technology, trade and ‘urban poor’ in a general equilibrium model with segmented domestic factor markets," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 400-416.
    5. Gokhan Akay & Can Dogan, 2013. "The effect of labor supply changes on output: empirical evidence from US industries," Journal of Productivity Analysis, Springer, vol. 39(2), pages 123-130, April.

    More about this item

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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