Heterodox
There are more issues with David Ricardo's theory of trade than Miles Corak observes, but it highlights an important one. Worth a read. To summarize, Ricardo built a toy model that is useful for thinking a simplified level but it is too simplistic to useful as a model for the actual practice of political economy. Miles Corak points out that failure of trade specialists, not to mention economists that don't specialize in trade, can be traced to their being overly influenced by...
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