tag:blogger.com,1999:blog-21661313.post115417459165575278..comments2024-01-23T10:52:07.009+00:00Comments on Hunting Monsters: Voodoo Economicsianhttp://www.blogger.com/profile/09958839106380353855noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-21661313.post-1158257692527057322006-09-14T19:14:00.000+01:002006-09-14T19:14:00.000+01:00As a concept, comparative advantage builds on abso...As a concept, comparative advantage builds on absolute advantage, but it is a major elaboration. The example Green gives is one where one country can produce one good more efficiently and the other country can produce the other good more efficiently. This is a pre-Ricardian situation of absolute advantage.ianhttps://www.blogger.com/profile/09958839106380353855noreply@blogger.comtag:blogger.com,1999:blog-21661313.post-1158188226333058142006-09-13T23:57:00.000+01:002006-09-13T23:57:00.000+01:00I think you may be underestimating Mr. Green. The ...I think you may be underestimating Mr. Green. The theory of comparative advantage actually builds on the theory of absolute advantage, afaik. Therefore it is not a exactly a "different concept", as you say. There follows an evidentiary quote from a textbook* which I'm reading in preparation for our upcoming module on IPE:<BR/>"Ricardo's singular achievement [in developing the theory of comparative advantage] was to demonstrate that trade was a positive-sum game in which all parties benefited even if one party had an absolute advantage in the production of all goods and services".<BR/><BR/>Then again, I haven't read 'Silent Revolution, so Duncan Green may well be full of shit economically. But perhaps you shouldn't dismiss him too swiftly...<BR/><BR/><BR/><BR/><BR/>* 'Global Political Economy: Evolution and Dynamics'; 2004; Robert O'Brien and Marc Williams; p. 139Paulhttps://www.blogger.com/profile/08058292698187350375noreply@blogger.com