Robert Torrens on strategic trade policy

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International Trade

Course (61 videos)

Robert Torrens on strategic trade policy

This video takes a look at a section of Robert Torrens' classic economic text, "The Budget." Torrens was a strong advocate of free trade. While many attribute the idea of comparative advantage to David Ricardo, it was, in fact, Robert Torrens who discovered this concept nearly two decades earlier. Torrens also came up with an early version of the debt-deflation theory of economic downturn, was a strong opponent of deflation, and linked trade theory to factors of aggregate demand.

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