Theories Of David Ricardo's Theory Of Comparative Advantage

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classical model of David Ricardo’s theory of comparative advantage (CA). This argues that all countries have the ability to thrive by taking advantage of their assets and determining what they are best at producing and then trading their best products for other products that are more efficiently produced by other nations (Ruffin, 2002, p. 729). Those who are for CA point out that there are multiple benefits to this concept that can lead to development growth. Their faith aligns with liberal methods and policies, as liberalizing trade offers a winning scenario to all those involved by creating a more economically efficient system, producing more with less input thus saving time (Higgott & Weber, 2011, p. 435). The increase in transactions between nations also leads to an increase in peaceful interaction and interdependence between WTO members. Peaceful interaction leads to lower trade barriers and creates a transparent trading scheme which leads to growth and development among member states. While many consider the WTO and CA to be central for advancing development objectives, some have argued that there is a darker side of this system in terms of its interrelationship between human rights and market freedoms. Robert Howse critiques the work of Petersmann and stresses how this interrelationship is far more complex than Petersmann understands it to be. While Petersmann proclaims that all comprehensive human rights cannot be held if their market freedoms are suppressed, he

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