NBER WORKING PAPER SERIES RICARDO ’S THEORY OF COMPARATIVE ADVANTAGE: OLD IDEA‚ NEW EVIDENCE Arnaud Costinot Dave Donaldson Working Paper 17969 http://www.nber.org/papers/w17969 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 April 2012 We thank Pol Antràs‚ Chang-Tai Hsieh‚ and Esteban Rossi-Hansberg for comments and Meredith McPhail and Cory Smith for excellent research assistance. This paper has been prepared for the 2012 American Economic Review
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their own. Countries like Cuba specializes in cigar production‚ Japan in electronics‚ and Russia in rocket technology. However‚ even if a country has an absolute advantage in producing all goods‚ they still will benefit from trade. Many economic factors are involved with trade. Among the major factors are opportunity costs‚ comparative advantage‚ specialization and finally trade. Opportunity cost is defined as the value of the best alternative forgone when an item or activity is chosen. In other
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Environment and Planning A 2004‚ volume 36‚ pages 2227 ^ 2256 DOI:10.1068/a3759 Shared‚ competitive‚ and comparative advantages: a competence-based view of industrial-district competitiveness ¨ ¨ Cesar Camison Department of Business Administration and Marketing‚ Universitat Jaume I‚ Campus Riu Sec. ¨ 12071 Castellon‚ Spain; e-mail: camison@emp.uji.es Received 26 February 2004; in revised form 29 April 2004 Abstract. The author’s aim is to construct and validate empirically a theoretical
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translation services‚ interpreting services‚ speech and language services‚ advocacy services 4.1 Confidentiality is closely interwoven with the concept of privacy. Every individual has the right to privacy. Privacy requires that facts or information which have been shared by someone with another party remain private and are not disclosed without the permission of the person who gave them. Keeping
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corrupts‚ and absolute power corrupts absolutely‚" said Lord Acton generations ago. In the Greek tragedy Antigone‚ written by Sophocles‚ there was a character named Kreon‚ the antagonist‚ who was the king of Thebes. Thebes was an autocratic state where Kreon had absolute power. Throughout the course of the play‚ Kreon abused his privilege of absolute power; and this caused him to suffer greatly‚ even though he was warned by a few people of his bad deeds. What Sophocles commented on absolute power was
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Spinoza’s idea of inalienable rights‚ argues that the purpose of the state is freedom. However‚ similar to Hobbes he falls into the trap that a right to act means nothing more than a capacity to do so. Spinoza is also contra-dictionary as he defends absolute freedom but puts forward exceptions. Both argue that the sovereign has a right to act as it wishes and to listen to subjects’ opinion is simply a case of self-interest as doing otherwise would result in resentment‚ thus natural right is determined
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Using at least three approaches or theories evaluate the usefulness of conducting comparative policy research. The comparative approach to the study of social life has a long tradition dating back to Ancient Greece. In the social sciences comparative research is widely employed to describe the studies of societies‚ cultures‚ institutions etc. and changes over time and space‚ when they are carried out with the intention of using the same research tool to compare systematically the manifestations
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Alan Severson 2013.11.30 A Case Study of Absolute Synonymy Oxford dictionary defines a synonym as “A word or phrase that means exactly or nearly the same as another word or phrase in the same language‚ for example shut is a synonym of close:” However‚ the definition example itself gives an example of near-synonymy rather than absolute synonymy‚ as “Shut down the computer” can not be used interchangeably with “Close down the computer.” But let us move beyond
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Pure) will be an organic version of regular vodka‚ the price will increase to $34.99/750 ml. The pricing strategy is based on communicating a prestigious image to the consumer. Consumers will be willing to pay more for an organic product and use our Absolute Pure as a vehicle for achieving social status. The higher price reflects exclusivity and enhances brand image.
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The development of comparative education Human beings are in the habit of making comparisons between things that around them. Comparison can take place wherever we have more than one thing that has the same purpose. We compare to make up our minds and to choose between two or more choices. Comparing can take place also for more scientific reasons for example to find out the relationship existing between‚ or among the things being compared. But what is comparative education? It is fully established
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