Re: Comparative Advantage and TNC's

[Paul Davidson <pdavidso@xxxxxxxxxxxxxxxxxx>]

On Fri, 8 Mar 1996, mckeever wrote:

> (Apologies for cross-postings.)
>
> There was a thread of discussion a few weeks ago about Comparative Advantage
> and the decline of the Nation State.

See Keynes's essay on "Self-Suffiiciency. The Law of Comparative
Advantage is applicable specifically when all trading countries are always
 at full employment, i.e., in a Say's Law global economy. Those who, like
Keynes, do not believe in Say's Law as applicable to the world in which
we live should be very carefull in applying the Law of Comparative
Advantage as a justification for free trade. Does this mean
protectionism? Only if more civilized measures for assuring global full
employment can not be achieved , see my  IMCU proposal and discussion of
Thirlwall's Law.

Paul D.