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This book provides a comprehensive discussion of the economics of International Trade.Key questions related to why countries trade, how they gain from trade, and how international trade can produce winners and losers are answered. The last of these questions is related to the connection of trade to inequality in the distribution of income.The book uses both theoretical models and empirical evidence to answer these questions. It also provides a discussion of the economics of labor migration and international capital mobility. The book also provides a detailed discussion of the welfare implications of various trade policy instruments such as tariffs, quotas, export subsidies etc. This is followed by a discussion of the process of actual policymaking in democratic societies which goes into the realm of political economy. The focus here is on the political economy of trade policy. It also provides a discussion of the economics of preferential trading agreements and a history of multilateral trading agreements under the aegis of GATT (General Agreement on Tariffs and Trade) and its evolution into the World Trade Organization (WTO).
This is the first book published in English on the new international value theory, presented by Yoshinori Shiozawa in 2007. Shiozawa submitted a solution to the question on international values since Ricardo by constructing a Ricardo–Sraffa model on trading economies with M countries and N commodities including intermediate inputs (normally M N). The new theory is based on the assumption that prices are determined by production costs, which is the property derived from the classical value theory. The papers collected here deal with the following: introducing readers to the new theory; presenting diagrammatic illustrations of the new theory; analysing efficient patterns of specialization allowing intermediate inputs; examining how the new theory gives a new horizon to the Neo-Ricardian trade theory; investigating competitiveness, the long-period method, and potentiality from the perspectives of the new theory; discussing Mill's conversion toward neoclassical revolution; scrutinizing how the concept of comparative advantage has developed and diverged from Ricardo’s trade theory; discussing the purification of Marshall's value theory through Mill’s influence; reviewing the controversies on international values among Japanese economists; considering the value-added trade based on the Ricardian value theory; and lastly giving a mathematical explanation of the definitions and theorems of the new theory./pp
Richard III (2 October 1452 - 22 August 1485) was King of England from 1483 until his death in 1485 in the Battle of Bosworth Field. He was the last king of the House of York and the last of the Plantagenet dynasty. His defeat at Bosworth Field, the last decisive battle of the Wars of the Roses, marked the end of the Middle Ages in England. He is the subject of the fictional historical play Richard III by William Shakespeare. In 2012, an archaeological excavation was conducted on a city council car park using ground-penetrating radar on the site once occupied by Greyfriars, Leicester. The University of Leicester confirmed on 4 February 2013 that the skeleton found in the excavation is that of Richard III, based on the results of radiocarbon dating, a comparison with contemporary reports of his appearance, and a comparison of his mitochondrial DNA with that of two matrilineal descendants of Richard III's eldest sister, Anne of York.
David Ricardo’s theories have been widely studied and discussed, including the prominent theory on comparative advantage. Ricardo and International Trade looks at the ongoing renaissance of the Ricardian international trade theory. The book’s interpretation brings fresh insights into and new developments on the Ricardian international trade theory by examining the true meaning of the ‘four magic numbers’. By putting together theories of comparative advantage and international money, the book attempts to elucidate Ricardo’s international trade theory in the real world. This book also features contributions from the Japanese perspective and compares Ricardian theories with those of his contemporaries, such as Malthus, Torrens and J. S. Mill. This book will be a valuable reference for researchers and scholars with interests in history of economic thought and international economics.