Subject category:
Economics, Politics and Business Environment
Published by:
Harvard Business Publishing
Version: 1 August 1987
Length: 6 pages
Data source: Published sources
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Abstract
Discusses David Ricardo's theory of comparative advantage and the refinement of his model developed by Eli Heckscher and Bertil Ohlin. Presents several criticisms of the Heckscher-Ohlin theory, including Wassily Leontief's empirical demonstration that the nature of US imports and exports were exactly contrary to the predictions of the theory.
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Abstract
Discusses David Ricardo's theory of comparative advantage and the refinement of his model developed by Eli Heckscher and Bertil Ohlin. Presents several criticisms of the Heckscher-Ohlin theory, including Wassily Leontief's empirical demonstration that the nature of US imports and exports were exactly contrary to the predictions of the theory.