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The Politics of Trade.docx

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Political Science
Course Code
POLI 243
Mark Brawley

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The Politics of Trade From IR to IPE The Logic Behind Trade Comparative Advantage The Wealth of Nations: Different people have different capacities to produce and to increase aggregate output, specialization is required Efficiency  an actor’s ability to produce a good or service more efficiently than another actor’s ability to do so If a country concentrates their resources to producing the good that they have a comparative advantage in, the aggregate world output for that good will rise Trade the rest In Country A, 1 Unit of Wine costs 2 units of textiles Country B, 1 unit of wine costs 1/3 unit of textiles A should trade textiles for B’s wine The Heckscher-Ohlin Model What you are good at depends on what you have Natural Endowments Canada has a lot of land, can produce wheat Base on endowments of the factors of production Labour, Capital, Land Inputs to production H-O Model and trade patterns Issues Concerning the Economics of trade Canada’s biggest trade partner is the US Explaining in
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