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The Economics Book
book

The Economics Book

by DK
December 2014
Beginner
352 pages
14h 24m
English
DK Publishing
Content preview from The Economics Book
RG

IN CONTEXT

FOCUS

Global economy

KEY THINKER

Paul Krugman (1953–)

BEFORE

1817 David Ricardo says that countries have comparative advantages due to physical factors.

1920s and 1930s Eli Heckscher and Bertil Ohlin argue that capital-abundant countries export capital-intensive goods.

1953 Wassily Leontief finds an empirical paradox: the US, a capital-abundant country, has relatively labor-intensive exports, in violation of existing trade theories.

AFTER

1994 Gene Grossman and Elhanan Helpman analyze the politics of trade policy, examining the effect of lobbying on the level of protection given to firms.

Economists used to believe that nations traded with each ...

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Publisher Resources

ISBN: 9781465438409