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Published in:
2016 | OriginalPaper | Chapter
11. Non-Dogmatic Approaches to the Economics of Trade
Author : Philip Pilkington
Published in: The Reformation in Economics
Publisher: Springer International Publishing
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Abstract
In this chapter, the mainstream economic theory of comparative advantage is deconstructed and examined in detail. It is shown that the theory rests on a number of simplifications that simply do not hold when any broader or more general picture is painted about the manner in which trade impacts an economy. The rhetoric of some leading members of the economics profession on the issue of so-called free trade is then examined as a concrete instance of economists using economic theory to support an ideology.