Retrospectives
On the Genius Behind David Ricardo's 1817 Formulation of Comparative Advantage
Bibliographic Data
| ID | 14855152 |
|---|---|
| Authors | Daniel M Bernhofen (0000-0002-3040-9590, Daniel M. Bernhofen is Professor of International Relations, School of International Service, American University, Washington, DC. Bernhofen is the corresponding author at), John C Brown (John C. Brown is Professor of Economics, Clark University Worcester, Massachusetts.) |
| Year | 2018 |
| Volume | 32 |
| Issue | 4 |
| Pages | 227-240 |
| Publication date | 2018-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.32.4.227 |
| Language | EN |
| Citations received | 3 |
| References cited | 13 |
Last year marked the 200th anniversary of Ricardo’s famous “four numbers” paragraph on comparative advantage, which is one of the oldest analytical results in economics. Following the lead of James Mill (1821), these four numbers have been interpreted as unit labor coefficients. This interpretation has provided the basis for the development of the ‘Ricardian model’ from John Stuart Mill (1852) to Eaton and Kortum (2002). However, if we accept the labor unit interpretation of these numbers, Ricardo’s exposition in his 1817 Principles of Political Economy and Taxation makes little logical sense. Building on Sraffa’s (1930) interpretation of Ricardo’s numbers as labor embodied in trade, our discussion reveals the amazing simplicity and generality of Ricardo’s comparative advantage formulation and gains-from-trade logic
Technology, Geography, and Trade
New Trade Models, Same Old Gains?
A calm investigation into Mr Ricardo's principles of international trade
The Liberal Elements in English Mercantilism
The true meaning of David Ricardo’s four magic numbers
Sources of Productivity Change in Ocean Shipping, 1600-1850
Putting Ricardo to Work
The US Gains From Trade
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,6 |
| Citation span | 2021 - 2025 (5) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 3 |