There is no Room: The Role of Net Reciprocal Effectual Demands in Ricardo’s Theory of Foreign Trade

On absolute and comparative advantage in international trade: A Pasinetti pure labour approach

“…163-6). 4 See Ruffin (2002) and Bhering & Serrano (2019) for similar results from a reconstruction of Ricardo. 5 Prices in each country are anchored to gold, as assumed by Pasinetti (1993, p. 151): under (1) and ( 2), the money wage allows the physical units of output to be measured in units of gold.…”

“…1,chap. 7, Following Gehrke (2017) and Bhering & Serrano (2019), the numbers in Ricardo's example can be read as the quantities of labour to produce given quantities of cloth and wine: "the four numbers refer to the labour contents of given (unspecified) amounts of the two goods traded" (Gehrke, 2017). In order to translate these quantities into labour coefficients it is necessary to divide each one by the respective given quantity.…”

“…This new strand of literature has roots in Sraffa's short note (Sraffa, 1930) that defends Ricardo from some claims of being wrong. It is argued that Ricardo's exposition is not incomplete, and world prices are determined by a condition of balanced trade and given quantities traded (see Ruffin, 2002;Senga et al (2017); and Bhering & Serrano (2019)). There is no consensus in the literature regarding the determination of the quantities traded in Ricardo's analysis.…”

“…There is no consensus in the literature regarding the determination of the quantities traded in Ricardo's analysis. For Gehrke (2017) these are unspecified amounts; while Bhering & Serrano (2019) argue that these given quantities are not arbitrary, but actually determined by known levels of effectual demands. This debate is outside the scope of this paper, it being sufficient for our purposes to assume that the quantities traded are given.…”

Exploración del comercio global: una revisión integral del comercio internacional y el comercio exterior

“…En términos cotidianos, estos conceptos se traducen en la capacidad de los países para beneficiarse al enfocarse en la producción eficiente de bienes y servicios, intercambiarlos con otros países y obtener productos que no pueden producir de manera eficiente a nivel interno (Zhu et al, 2021;Pu et al, 2022). También, se reconoce que estos principios han dado forma a la teoría del comercio exterior e internacional y han proporcionado el marco conceptual para entender los flujos comerciales y sus efectos económicos (Kouladoum & Danadji, 2021;Bhering & Serrano, 2022).…”