Abstract
The Ricardian approach invites a search for the precise location of the optimum external exchange ratio between the I R curves, in order to be able to answer the essential questions of the comparative cost theory. The manner of approach as described in Ricardo’s ‘Principles’ — characterized by an incomplete choice of data and consequently methodologically inadequate -proved unsuitable for achieving this objective. A broader view is essential. This is why in the works of Mill, Marshall and Edgeworth where the analysis are now popular not undertaken from the production sector, but rather pointedly from the consumption sector.
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References
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© 1976 H. E. Stenfert Kroese B. V., Leiden, The Netherlands
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Rijnvos, C.J. (1976). Analysis Viewed from the Consumption Sector. In: A new approach to the theory of international trade. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-4385-1_4
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DOI: https://doi.org/10.1007/978-1-4613-4385-1_4
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