Economics Dictionary of ArgumentsHome
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| Ricardian Theory - Economics Dictionary of Arguments | |||
| The Ricardian theory, formulated by David Ricardo, posits that international trade is driven by comparative advantage, not absolute advantage. It suggests that even if one nation is less efficient in producing all goods compared to another, both can benefit from trade by specializing in the production of goods where they have a relative efficiency advantage. This theory underpins much of modern international trade policy. | |||
| Author | Item | More authors for concept | |
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| Ricardian Theory | Climate Damages | Climate Damages | |
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Ed. Martin Schulz, access date 2024-04-20 | |||
