“Protection and Real Wages”: The History of an Idea

Ronald Jones

Chapter 6 in International Trade Theory and Competitive Models:Features, Values, and Criticisms, 2018, pp 93-108 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Few economics articles have achieved the celebrity that still attaches to the paper, “Protection and Real Wages,” by Wolfgang Stolper and Paul Samuelson in (1941). In this chapter, I discuss how the Stolper–Samuelson theorem has been re-interpreted over subsequent decades, and how attempts to generalize the theorem to higher dimensions have met with qualified results. The theorem leads to a simple proposition in political economy: In competitive models any productive factor can have its real return increased by a nontransparent policy whereby relative commodity prices are altered if there are enough commodities and joint production is not too severe.

Keywords: International Trade Theory; Models; Competitive Markets (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Date: 2018
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Journal Article: “PROTECTION AND REAL WAGES”: THE HISTORY OF AN IDEA (2006)
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