This paper shows that David Ricardo's gain from trade is miserably small compared with Adam Smith's gain from division of labor. It then proves that Ricardo's comparative advantage means forced exchange. Finally, it shows that Walras' free cooperation theory better explains international trade

Trade is a reciprocal relation, and must always be balanced. This paper shows that the traditional partial model of international trade is a monster model, combining the demand and the supply of two different markets into one graph. Such theory thus misleads some people to use trade deficit to...

This paper proves that Krueger's trade model is not trustworthy and her measure of rent is both uncertain and negligible. An alternative model inspired by Pigou works out the definite rent, but this paper concludes that such rent does not dissipate so easily

This paper disproves Ohlin’s version of the loanable fund theory. It proves that a demand for goods does not give a supply of fund (indeed, it gives rise to a demand for fund), and a supply of goods does not give a demand for fund (indeed, part of it gives a money supply). It also disproves...

Welker provides a simple proof of the Marshall-Lerner Condition, this paper points out some flaws in his derivation. His definition of excess demand is wrong. Excess demand and excess supply are equivalent. A correct trade model does not contain excess demand or excess supply