Free trade and absolute and comparative advantage

Thesis 16

Free trade and absolute and comparative advantage

This thesis deals with two theories of international trade: the theory of comparative advantage, which is connected to the name David Ricardo and is dominating current trade theory, and Adam Smith’s theory of absolute advantage. Both theories are compared and their assumptions are scrutinised. The former theory is rejected on theoretical and empirical grounds in favour of the latter. On the basis of the theory of absolute advantage, developments of free international trade are examined, whereby the focus is on trade between industrial and underdeveloped countries.

Thesis 16
Reinhard Schumacher
Free trade and absolute and comparative advantage
A critical comparison of two major theories of international trade
Universitätsverlag Potsdam, Potsdam 2012
ISBN 978-3-86956-195-0
ISSN 1866-0738
108 Seiten / 7,00 €
Bezug über Univerlag Potsdam

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