International Trade and the Equalisation of Factor Prices.¶
Samuelson, P. A. (1948). International Trade and the Equalisation of Factor Prices. Economic Journal, 58(230), 163-184.
Cited by¶
3 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Comparative Advantage
This sourceProves factor-price-equalization theorem; shows trade can eliminate wage differences between countries; extends H-O model to formal equilibrium.
- Gains from Trade
- As Samuelson (1948) formalized in the factor-price-equalization framework grounded in general-equilibrium analysis, coordinating production and consumption across millions of heterogeneous agents would be intractable if each had to calculate aggregate welfare directly.
This sourceProves the factor-price-equalization theorem extending H-O to formal equilibrium; supports the Manages-Complexity claim that decentralized local opportunity-cost decisions aggregate to an efficient global allocation, and the Example's account of FPE.
This sourceCited in the formal Example for the factor-price-equalization theorem extending Heckscher-Ohlin (same work as the marker-021 citation).
- As Samuelson (1948) formalized in the factor-price-equalization framework grounded in general-equilibrium analysis, coordinating production and consumption across millions of heterogeneous agents would be intractable if each had to calculate aggregate welfare directly.
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Registry ID ref:aa93f3c1bb3c · see in the full table