This paper picks up an argument that I developed in an earlier contribution (2007) in which I introduced the concept of ‘deliberative trade policy'. This approach analyzes the entire set of trade policy institutions and measures as means and media of communicating about preferences of...

Standard trade theory is a theory about the structure of international production which emerges from an international arbitrage equilibrium. It is not a theory about the activity of trading which is simply taken for granted or which is treated implicitly in the concept of exogenous trade costs....