Robert Torrens’ model of trade and growth:genesis and implications for the discovery of comparative advantage

Michael Gaul ()
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Michael Gaul: PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne

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Abstract: TRACT This paper analyzes the evolution of Torrens' trade theory from 1808 to 1826. Firstly, it shows that Torrens' reflections on trade evolved considerably by comparing The Economists Refuted and the Essay on the Production of Wealth. Secondly, it offers an explanation of how and why this evolution took place by scruti- nising the different editions of the Essay on the External Corn Trade. Thirdly, Torrens' model of trade and growth is presented. Finally, by identifying the assumptions underlying the model, it is argued that, in the early 1820s, Torrens still adheres to the abso- lute advantage theor

Keywords: Torrens; Ricardo; gains from trade; comparative advantage; absolute advantage (search for similar items in EconPapers)
Date: 2020-07-01
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Published in European Journal of the History of Economic Thought, 2020, 28 (2), pp. 201-228. ⟨10.1080/09672567.2020.1785521⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-03976534

DOI: 10.1080/09672567.2020.1785521

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