A neo-Ricardian critique of the traditional static theory of trade, customs unions and common markets

Theodore Mariolis ()

MPRA Paper from University Library of Munich, Germany

Abstract: The vast majority of meaningful discussions about the processes of economic integration and liberalization of trade have so far revolved around the neoclassical theory. This paper is based on the neo-Ricardian theory, briefly investigates the issues of free trade, customs unions and common markets, and shows that the relevant neoclassical propositions do not hold and/or make no sense in a world ‘of production of commodities by means of commodities’. Thus, the fundamental theoretical presuppositions of the aforesaid debate are called in question.

Keywords: common markets; customs unions; free trade; neo-Ricardian theory; traditional static theory (search for similar items in EconPapers)
JEL-codes: B51 D57 F11 F15 (search for similar items in EconPapers)
Date: 2010
New Economics Papers: this item is included in nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:23088

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