The so-called Ricardian model of contemporary economic textbooks differs significantly from the famous numerical example included in chapter seven of the Principles. The difference is not merely with respect to the definition of the four numbers, but also in terms of underlying proposition,...

This paper develops a Ricardian model of trade in which there are indivisibilities in both production and consumption. Indivisibilities give rise to new results compared to the standard model with perfectly divisible production and consumption. Production indivisibility may result in complete...

This paper explores a 3×3 full-employment H-O-S model with tariff-protection in the capital-intensive import-competing sector and inflows of FDI (foreign direct investment) to an export sector (using foreign capital as a specific input) within the ‘foreign enclave’ of a small open...

Ricardo essentially adhered to the logic of trade that Smith formulated in the Wealth of Nations. The contrary notion that they had opposing logics of trade is the result of an inaccurate interpretation of Ricardo’s numerical demonstration of the comparative-advantage proposition in chapter...

This paper analyzes the dynamics of a variant of Jones (2002) semi-endogenous growth model within the feasible parameter space. We derive the long run growth rate of the economy and do a detailed bifurcation analysis of the equilibrium. We show the existence of codimension-1 bifurcations (Hopf,...

The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working...

Tunisia is considered one of the best performing countries in terms of economic growth among countries in the Middle East and North Africa. During the past 30 years, this growth was 5% on average. At the same time, the country has opted very early for a very pronounced policy of opening to the...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

This research provided the study of importance of factors affecting the decision making of out-sourcing & supplier performance in Textiles domain. The textile market of USA is the scope of this research. The basis of this study allowed comprehending the importance / weight of factors of...

Integration to world markets is expected to help developing countries to access prosperity. At the same time, increasing opportunities to trade are likely to affect income distribution and whether or not increasing openness to trade is accompanied by a reduction or an increase inequality is...