The Great Factor-Price Equalization

posted by
July 11, 2011
by Arnold Kling  
Posted in Commentary

"Once again, I want to point out that low job creation and stagnation are not the same thing. One story we could tell for the past twenty years might be The Great Factor-Price Equalization. In international trade theory, when you open up trade between countries, factor prices tend to converge." (07/11/11)  

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