Vanek, Jaroslav - In: International Review of Economics & Finance 20 (2011) 2, pp. 131-134
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...