Saturday, December 22, 2007

A Trade Question to think about?

From Delong's exams;

Why would an international trade economist like David Ricardo have thought that the United States would and should become a very large almost entirely agrarian civilization--a giant Canada? It was clear by 1900 that David Ricardo was wrong? Why was he wrong?

1 comment:

David Zwerdling said...

Perhaps it had something to do with the physiocratic view of the production of wealth?

For those who haven't had the wonderful opportunity of an historical economics class:
http://en.wikipedia.org/wiki/Physiocrats