Main description: Richard Smethurst shows that the growth of a rural market economy did not impoverish the Japanese farmer. Instead, it led to a general increase in rural prosperity.Originally published in 1986.The Princeton Legacy Library uses the latest print-on-demand technology to again make...

In this paper we assess the current relevance of Ricardian theory. Relative prices, labor costs, and productivity are evaluated as determinants of a country's international competitiveness at the industry level. Working with detailed data on unit values and with industry data on productivity, we...