This paper presents an overview of the history of thought on the factor content of trade. It emphasizes that the conditions of factor price equalization do not hold. It describes a theory of destructive trade that is at the root of the Great Recession of 2008 and 2009. Jobs outsourced to...

The failure of the old economic system, of many years of attempts to modernize it, and the situation preceding the catastrophe in the former USSR (which is to no small degree reminiscent of the situation in Germany in the final days of the Weimar Republic and threatens unpredictable...

As beggar-thy-neighbor policies contributed to the Great Depression, so did Destructive Trade contribute to, if not cause, the Great Recession. At the heart of the argument is the fact that modern policy-makers believe in free trade based on comparative advantage, neglecting the fact that with...