The Global Free Trade Error

The Infeasibility of Ricardo’s Comparative Advantage Theory

Business & Finance, Economics, Economic History
Cover of the book The Global Free Trade Error by Ron Baiman, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Ron Baiman ISBN: 9781317527015
Publisher: Taylor and Francis Publication: February 24, 2017
Imprint: Routledge Language: English
Author: Ron Baiman
ISBN: 9781317527015
Publisher: Taylor and Francis
Publication: February 24, 2017
Imprint: Routledge
Language: English

The doctrine of "free trade" is second only to that of "free markets" in undergirding ideological support for our current global economic structures and rules. From David Ricardo’s "comparative advantage principle" to James Meade’s Neoclassical or mainstream economics proof of self-adjusting free trade equilibrium, the free trade doctrine has had a lasting and destructive hold on Neoclassical economic thinking since its inception.

The Global Free Trade Error provides a detailed analysis of these foundational models and counter-poses these to alternative Neo-Marxist "unequal exchange" models of global trade and finance. In the first part of the book the three core free trade models alluded to above are respectively demonstrated to be: overdetermined, inapplicable, and infeasible. In particular, Ricardo’s parable is shown to support managed trade rather than free trade as Ricardo and two centuries of economic texts have claimed. In the second part of the book, unequal exchange analyses of global trade are shown to provide logically coherent and useful insights into global trade and finance. In the third and final part of the book, this unequal exchange perspective is used, within a general "demand and cost" setting, to develop a set of global managed trade principles for a more equitable and sustainable world trade regime.

This book will be of great interest to those who study political economy, history of economic thought, and international trade, including trade agreements and tariffs.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The doctrine of "free trade" is second only to that of "free markets" in undergirding ideological support for our current global economic structures and rules. From David Ricardo’s "comparative advantage principle" to James Meade’s Neoclassical or mainstream economics proof of self-adjusting free trade equilibrium, the free trade doctrine has had a lasting and destructive hold on Neoclassical economic thinking since its inception.

The Global Free Trade Error provides a detailed analysis of these foundational models and counter-poses these to alternative Neo-Marxist "unequal exchange" models of global trade and finance. In the first part of the book the three core free trade models alluded to above are respectively demonstrated to be: overdetermined, inapplicable, and infeasible. In particular, Ricardo’s parable is shown to support managed trade rather than free trade as Ricardo and two centuries of economic texts have claimed. In the second part of the book, unequal exchange analyses of global trade are shown to provide logically coherent and useful insights into global trade and finance. In the third and final part of the book, this unequal exchange perspective is used, within a general "demand and cost" setting, to develop a set of global managed trade principles for a more equitable and sustainable world trade regime.

This book will be of great interest to those who study political economy, history of economic thought, and international trade, including trade agreements and tariffs.

More books from Taylor and Francis

Cover of the book African Americans and Native Americans in the Cherokee and Creek Nations, 1830s-1920s by Ron Baiman
Cover of the book Chernobyl (Routledge Revivals) by Ron Baiman
Cover of the book Dickens and the Imagined Child by Ron Baiman
Cover of the book Project Stakeholder Management by Ron Baiman
Cover of the book Strategic Sales and Strategic Marketing by Ron Baiman
Cover of the book Twentieth-Century Caribbean Literature by Ron Baiman
Cover of the book The Principles and Practice of Group Work in Addictions by Ron Baiman
Cover of the book Traffickers by Ron Baiman
Cover of the book The Rustication of Urban Youth in China by Ron Baiman
Cover of the book American Images of China by Ron Baiman
Cover of the book The City as a Terminal by Ron Baiman
Cover of the book Central Banking in a Democracy by Ron Baiman
Cover of the book Powering China:Reforming the Electric Power Industry in China by Ron Baiman
Cover of the book Tourism and Social Identities by Ron Baiman
Cover of the book Magnyfycence by Ron Baiman
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy