An Elizabethan Age for Pure Trade Theory: 1925-55

Paul A. Samuelson

Review of International Economics, 2005, vol. 13, issue 5, pages 1001-1003

Abstract: Developing science does depend on special individuals. But it is the cooperative and competitive interplay of many contributors that makes the whole greater than the sum of its parts. Also understanding grows temporally in fits and starts. The 1750-1848 Age of Hume-Torrens-Ricardo-J. S. Mill was stellar for trade theory. Later came the Marshall-Edgeworth-Mangoldt-Pareto Age. My generation's luck was to learn from great teachers in the Taussig-Heckscher-Cassel-Pigou-Keynes-Ohlin-Viner-Graham-Haberler age. Blessed was it to be able to bring new trends of math and graphics to crack the open questions that masters left unsolved. By 1930 the time had been over-ripe to go beyond labor-only Ricardo comparative advantage. The baton was carried forward by Lerner-Leontief-Harrod-Meade-M. Samuelson-Stolper-Samuelson-Jones-Kemp. What fun for all! What unsolved issues for post-Johnson students to gnaw at! Copyright 2005 International Monetary Fund.

Date: 2005

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