Although on first sight absolutely simple, Paul Krugman praised Ricardo’s idea as ‘‘[..] truly, madly, deeply difficult [..] but also utterly true, immensely sophisticated – and extremely relevant to the modern world’’.
1 Today, more than two centuries later, we still ask how countries should position themselves to gain from trade and integration, but the focus has become a global one, with goods and services, capital and information surrounding the world at a speed none of us would have imagined only a decade ago.