Science Fair Project Encyclopedia
Ricardian economics
Ricardian economics is an economic model of international trade introduced by David Ricardo to explain the pattern and the gains from trade in terms of comparative advantage. It assumes perfect competition and a single factor of production: labor, with constant requirements of labor per unit of output that differ across countries.
The neo-Ricardian school is a modern school that is based on a refounding of ideas of value originating in the work of Adam Smith and Ricardo, as reformulated by Piero Sraffa.
10-26-2009 08:16:03
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The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details