How would David Ricardo have taught the principle of comparative advantage?

Southern Economic Journal | April 1, 2008| | Copyright

1. Introduction

Assume that David Ricardo's life had extended beyond the age of 51, that he became a professor of political economy in his later years, and was invited to lecture on comparative advantage. (l) Against all odds, he displays a remarkable intuition of future developments in economic theory and is able to use the standard tools and graphical techniques found in present-day economics textbooks. In his lecture, Ricardo recalls the numerical example contained in his Principles of Political Economy and Taxation (Ricardo 1951b, chapter 7) where cloth and wine ...

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