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The late Joan Robinson produced some interesting writings[1] but there are few economists indeed who credit her with proving Ricardo wrong about comparative adv
by tokenadult 13y ago
The late Joan Robinson produced some interesting writings[1] but there are few economists indeed who credit her with proving Ricardo wrong about comparative advantage. That's because in fact her writings about Ricardo's ideas focused on different issues, and Ricardo was and is right that each party in free trade enjoys comparative advantage in trade with the other party. Economic growth through free trade has been the path to prosperity for Taiwan (where I have lived), Hong Kong (where I have visited more than once), and quite a few other countries all around the world. Portugal's economy during the years she studied was not characterized by following Ricardo's advice.
[1] http://www.econlib.org/library/Enc/bios/Robinson.html http://www.econlib.org/library/Enc/bios/Robinson.html