A collection of essays on contemporary international trade, this text critiques the major theoretical components; including the Ricardian principle of comparative advantage and the developed normative analysis of international transfers

We develop a model of international trade with increasing returns to scale by taking into account the possibility of cooperation among agents in an egalitarian economy. It is shown that each country gains from trade in a trading world in which there are arbitrary numbers of...

We examine the role of radical international differences in preferences in determining patterns of international trade, given that the trading countries share a common technology and identical factor endowment ratios. It is characteristic of our model that the equilibrium autarkic commodity...

We examine the role of radical international differences in preferences in determining patterns of international trade, given that the trading countries share a common technology and identical factor endowment ratios. It is characteristic of our model that the equilibrium autarkic commodity...

We develop a model of international trade with increasing returns to scale by taking into account the possibility of cooperation among agents in an egalitarian economy. It is shown that each country gains from trade in a trading world in which there are arbitrary numbers of...

The paper presents a general equilibrium model of a pure exchange economy with stochastic endowment in which speculation is profitable and stabilizes prices, but is useless from a welfare point of view. Reconciling the Siegel paradox with the theory of incomplete markets we show that banning...

The paper presents a general equilibrium model of a pure exchange economy with stochastic endowment in which speculation is profitable and stabilizes prices, but is useless from a welfare point of view. Reconciling the Siegel paradox with the theory of incomplete markets we show that banning...