Deardorff, A.V. - Research Seminar in International Economics, University … - 1998
theory, and in particular the theory of comparative advantage, is really just an application of benefit-cost analysis. This … is true both of many of the tools of trade theory, which are familiar as the same tools by which benefit-cost examines … all sorts of public projects and policies, and of the implications of the theory. Trade theory does not say, as sometimes …