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 Henry A. Abbati: Keynes' Forgotten Precursor by Ron Baiman
Cover of the book EU Socio-Economic Governance since the Crisis by Ron Baiman
Cover of the book Student Development Theory in Higher Education by Ron Baiman
Cover of the book The Poetry of Ted Hughes by Ron Baiman
Cover of the book The Future of Relationship Marketing by Ron Baiman
Cover of the book World, Class, Women by Ron Baiman
Cover of the book Marcel Duchamp and the Architecture of Desire by Ron Baiman
Cover of the book Knowledge, Class, and Economics by Ron Baiman
Cover of the book William Gladstone by Ron Baiman
Cover of the book International Cultural Tourism by Ron Baiman
Cover of the book The Art of Building: International Ideas, Dutch Debate 1840-1900 by Ron Baiman
Cover of the book The Demonic by Ron Baiman
Cover of the book Adaptive Governance and Water Conflict by Ron Baiman
Cover of the book Struggle for Empire by Ron Baiman
Cover of the book The Future of Large Dams 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