Reconciling Ricardo's Comparative Advantage with Smith's Productivity Theory
Jorge Morales Meoqui ()
Economic Thought, 2014, vol. 3, issue 2, 21
There are three main claims in the paper: first, there is sufficient evidence for affirming that Ricardo adhered to Smith's productivity theory; second, Ricardo's original demonstration of the comparative- advantage proposition is indeed compatible and complementary with respect to the latter; and third, Ricardo agreed with Smith's multifactorial explanation of the pattern of trade, which includes increasing returns and economies of scale. These results suggest that the level of compatibility between the international trade theories of Smith and Ricardo is significantly higher than it is currently reflected in the economic literature. They also add a new perspective to the ongoing process of reassessment of Smith's contributions to international trade theory, further strengthening the view that he was indeed an outstanding international trade theorist.
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
http://et.worldeconomicsassociation.org/papers/rec ... productivity-theory/ (text/html)
Working Paper: Smith's and Ricardo's common logic of trade (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wea:econth:v:3:y:2014:i:2:p:21
Access Statistics for this article
Economic Thought is currently edited by Kyla Rushman
More articles in Economic Thought from World Economics Association Contact information at EDIRC.
Series data maintained by Jake McMurchie ().