An International Trade Theory for Our Time: Trade Theory of Hyper-Globalization and Hyper-Information Flow
10 Pages Posted: 1 Feb 2016
Date Written: January 31, 2016
Throughout the course of modern history, there have been ever changing theories regarding trade. International trade in particular, has been the subject of much controversy regarding the potential benefits and detriments that may come along with certain practices. This paper will analyze the evolution of trade theory beginning with the mid-1500s and mercantilism, progressing through the 20th Century trade theories, and proposing a new trade theory for the 21st century, namely: Trade Theory of Hyper-Globalization and Hyper-Information Flow.
Keywords: mercantilism, absolute advantage, comparative advantage, heckscher-ohlin theory, leontief paradox, product life cycle theory, new trade theory, national advantage porter’s diamond, hyper-globalization, hyper-information flow
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