A "revealed" version of one of this man's concepts can be measured with the Balassa index. Joseph Schumpeter criticized John Maynard Keynes and this man for building abstract models, which constitutes his namesake "vice." One of his theories is fleshed out in the Heckscher-Ohlin model. He posited that government spending has little effect on the decisions of consumers, which is his namesake (*) equivalence. He stated that an increase in the demand for labor occurring faster than the increase in population could raise wages, and considered a situation that arises when countries have different o
A "revealed" version of one of this man's concepts can be measured with the Balassa index. Joseph Schumpeter criticized John Maynard Keynes and this man for building abstract models, which constitutes his namesake "vice." One of his theories is fleshed out in the Heckscher-Ohlin model. He posited that government spending has little effect on the decisions of consumers, which is his namesake (*) equivalence. He stated that an increase in the demand for labor occurring faster than the increase in population could raise wages, and considered a situation that arises when countries have different opportunity costs for producing a good. For 10 points, name this author of Principles of Political Economy and Taxation, who formulated the iron law of wages and the law of comparative advantage.
A "revealed" version of one of this man's concepts can be measured with the Balassa index.