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Ricardo's International Trade Theory: Beyond the Comparative Cost Example

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  • Maneschi, Andrea

Abstract

The benefits of trade for David Ricardo should be related to his rent theory and are dynamic in nature, outweighing the static ones associated with the theory advantage. In light of several recen t multifactor "Ricardian" models, a reevaluation of Ricardo's trade theory is called for. Its textbook version postulates that commoditi es are produced by labor alone at constant cost. This static model is n ot representative of the implicit trade model underlying chapter 7 and other chapters of the Principles in which trade figures prominently, and Ricardo's other writings, and should be replaced by a richer, multifactor model. Copyright 1992 by Oxford University Press.

Suggested Citation

  • Maneschi, Andrea, 1992. "Ricardo's International Trade Theory: Beyond the Comparative Cost Example," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 16(4), pages 421-437, December.
    • Handle: RePEc:oup:cambje:v:16:y:1992:i:4:p:421-37
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    Cited by:

    1. Jin Suk Park & Eunju Hwang, 2023. "Sectoral FTA gains, conflicts, and the role of interindustry factor mobility: Evidence from Korea's free trade agreement," Pacific Economic Review, Wiley Blackwell, vol. 28(1), pages 97-123, February.
    2. Edwards, Sebastián, 2024. "One Hundred Years Of Exchange Rate Economics At The University Of Chicago: 1892-1992," SocArXiv vrtns, Center for Open Science.
    3. Andrea Maneschi, 2008. "How Would David Ricardo Have Taught the Principle of Comparative Advantage?," Southern Economic Journal, John Wiley & Sons, vol. 74(4), pages 1167-1176, April.
    4. Cláudio Gontijo, 2000. "The Ricardian theory of international trade: a criticism," Textos para Discussão Cedeplar-UFMG td141, Cedeplar, Universidade Federal de Minas Gerais.
    5. John E. King, 2013. "Ricardo on Trade," Economic Papers, The Economic Society of Australia, vol. 32(4), pages 462-469, December.
    6. Robert A. Blecker, 2015. "International Trade and Development," Working Papers 2015-07, American University, Department of Economics.
    7. Salvadori, Neri & Signorino, Rodolfo, 2013. "The Malthus versus Ricardo 1815 Corn Laws Controversy: An appraisal," MPRA Paper 50534, University Library of Munich, Germany.
    8. Tamás Mizik, 2021. "Agri-Food Trade Competitiveness: A Review of the Literature," Sustainability, MDPI, vol. 13(20), pages 1-14, October.
    9. Ajmani, Manmeet, 2023. "Examining the interplay between agri-food and trade competitiveness: A review of literature," MPRA Paper 118396, University Library of Munich, Germany.
    10. Maneschi, Andrea, 2004. "The true meaning of David Ricardo's four magic numbers," Journal of International Economics, Elsevier, vol. 62(2), pages 433-443, March.
    11. Deborah Winkler & William Milberg, 2011. "Classical and Neoclassical Theories of Offshore Outsourcing," Working Papers 1113, New School for Social Research, Department of Economics.
    12. Dr. Caroline Ntara, 2022. "What Does Africa Stand to Gain from the African Continental Free Trade Area?," International Journal of Science and Business, IJSAB International, vol. 16(1), pages 69-90.

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