Conceived of by Robert Torrens in 1815, it was discussed two years later in [*] Principles of Political Economy and Taxation, with the example of easily-made English cloth and Portuguese wine.
It is determined by resource allotment according the Heckscher-Olin model, and Paul Craig Roberts claimed it doesn't exist when capital is mobile. Conceived of by Robert Torrens in 1815, it was discussed two years later in [*] Principles of Political Economy and Taxation, with the example of easily-made English cloth and Portuguese wine. For 10 points, name this international trade theory of David Ricardo, saying that countries should only produce goods for which their opportunity cost is lowest, in contrast to absolute advantage.
It is determined by resource allotment according the Heckscher-Olin model, and Paul Craig Roberts claimed it doesn't exist when capital is mobile.
theory of {comparative advantage}