• Trade barriers seriously distort patterns of international trade, allocation of resources, and economic growth. The total economic costs of the barriers are estimated to exceed $475 billion per annum • Partial reform, such as envisaged in the Uruguay Round, would yield benefits of $195...

This paper investigates the application of the principle of comparative advantage to policy analysis and policy formulation. It is concerned with both the theory and the measurement of comparative advantage. Despite its central role in economics, the theory is found to be at an impasse, with its...

. Les barrières commerciales faussent la structure des échanges internationaux ; elles altèrent l'affectation des ressources productives et freinent la croissance économique. Leur coût économique total est estimé à plus de 475 milliards de dollars par an. . Une réforme partielle, comme...

Books reviewed include: Principles of Agricultural Economics by D. Colman and T. Young; World Agriculture: Toward 2000 by Nikos Alexandratos; Food Subsidies in Developing Countries: Costs, Benefits and Policy Options; Elasticities in International Agricultural Trade by Colin A. Carter and W. H....