[Full Picture] The classical theory of international trade after Sraffa

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The classical theory of international trade after Sraffa | Cairn.info

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Article summary:

1. Piero Sraffa's contribution to the Classical theory of international trade is twofold: he demonstrated that John Stuart Mill's 1844 criticism of David Ricardo (1817) is not relevant, and he offered a new theory of prices.

2. Post-Sraffian approaches to international trade were developed as a joint product of the Cambridge controversies on the theory of capital, challenging the main theorems of neoclassical trade theory and proposing different applications of the theory of prices of production in the field of international trade.

3. The Classical theory of international trade cannot be reduced to the teachings of most textbooks on international trade; its originality lies in the role that Classical authors attribute to foreign trade in the dynamics of the division of labour.

Article analysis:

The article “The classical theory of international trade after Sraffa” provides an overview and analysis on how Piero Sraffa’s contributions have impacted classical theories on international trade. The article is written by two academics who are well-versed in this topic, providing credibility to their claims and arguments. The article is well-structured and organized, making it easy for readers to follow along with their argumentation.

The article does provide some potential biases, such as its focus on post-Sraffian approaches which may lead readers to overlook other important aspects related to classical theories on international trade. Additionally, there are some unsupported claims made throughout the article which could be further explored or backed up with evidence for readers’ better understanding. Furthermore, there are some missing points which could be considered when discussing this topic such as exploring counterarguments or presenting both sides equally when discussing certain topics.

In conclusion, while this article provides a comprehensive overview and analysis on how Piero Sraffa’s contributions have impacted classical theories on international trade, it does contain some potential biases and unsupported claims which should be further explored or backed up with evidence for readers’ better understanding. Additionally, there are some missing points which could be considered when discussing this topic such as exploring counterarguments or presenting both sides equally when discussing certain topics.

Topics for further research:

Classical theories of international trade Counterarguments to classical theories of international trade Evidence for classical theories of international trade Impact of Piero Sraffa on international trade Post-Sraffian approaches to international trade Pros and cons of classical theories of international trade