Abstract
Capital mobility has the potential of undermining the validity of Ricardo’s theory of comparative advantage. Within this context, the tendency towards a uniform rate of profit makes absolute costs relevant for the analysis of specialisation patterns. A historical and analytical reconstruction is resented of a few significant contributions addressing this point, with a particular focus on the possibility of exclusion from trade and production “desertification” caused by a country’s low profitability of capital. A generalisation of a result obtained by Parrinello is provided.
| Lingua originale | English |
|---|---|
| pagine (da-a) | 271-293 |
| Numero di pagine | 23 |
| Rivista | European Journal of the History of Economic Thought |
| Volume | 2022 |
| DOI | |
| Stato di pubblicazione | Pubblicato - 2022 |
Keywords
- Capital mobility
- absolute advantage
- specialisation