The Global Free Trade Error : The Infeasibility of Ricardo?s Comparative Advantage Theory

Language: English

Published by Taylor & Francis Mär 2017, 2017

1138852953 / 9781138852952

Series: Book 203 of 375 - Routledge Frontiers of Political Economy

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Neuware - The doctrine of 'free trade' is second only to that of 'free markets' in undergirding ideological support for our current global economic structures and rules. From David Ricardo's 'comparative advantage principle' to James Meade's Neoclassical or mainstream economics proof of self-adjusting free trade equilibrium, the free trade doctrine has had a lasting and destructive hold on Neoclassical economic thinking since its inception.The Global Free Trade Error provides a detailed analysis of these foundational models and counter-poses these to alternative Neo-Marxist 'unequal exchange' models of global trade and finance. In the first part of the book the three core free trade models alluded to above are respectively demonstrated to be: overdetermined, inapplicable, and infeasible. In particular, Ricardo's parable is shown to support managed trade rather than free trade as Ricardo and two centuries of economic texts have claimed. In the second part of the book, unequal exchange analyses of global trade are shown to provide logically coherent and useful insights into global trade and finance. In the third and final part of the book, this unequal exchange perspective is used, within a general 'demand and cost' setting, to develop a set of global managed trade principles for a more equitable and sustainable world trade regime.This book will be of great interest to those who study political economy, history of economic thought, and international trade, including trade agreements and tariffs.…

Seller Inventory # 9781138852952

Title
The Global Free Trade Error : The Infeasibility of Ricardo?s Comparative Advantage Theory
Author
Ron Baiman
Publisher
Taylor & Francis Mär 2017
Publication year
2017
Condition
Neu
Binding
Buch
Language
English
ISBN 10
1138852953
ISBN 13
9781138852952
Item weight
417 grams
Dimensions
234x157x15 mm
Series
Book 203 of 375: Routledge Frontiers of Political Economy

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