A Neo-Ricardian Analysis of International Trade

L. Mainwaring

Chapter 9 in Fundamental Issues in Trade Theory, 1979, pp 110-122 from Palgrave Macmillan

Abstract: Abstract Traditionally, the Ricardian theory of international trade is thought of in terms of a simple Labour Theory of Value, in which prices are proportional to labour inputs. Ricardo himself recognised that the existence of a positive rate of profit could make prices diverge from their direct labour costs but thought the difference was insignificant.1 Among post-Ricardians, Taussig is one of the few who explicitly recognised that profit on capital could affect the pattern of trade, but he too tended to minimise its importance.2 More recently, however, differences in the no-trade pattern of income distribution (which when countries use the same techniques implies a difference in their no-trade rates of profit) have been suggested as a basis for international trade.3

Keywords: International Trade; Real Wage; Capitalist Consumption; Relative Prex; Trade Theory (search for similar items in EconPapers)
Date: 1979
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DOI: 10.1007/978-1-349-04378-1_9

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