10 questions · 5 almanac · 0 findings

International Trade and Globalization

The economics of cross-border trade and integration.

Almanac Correct, and Four Years Too Late
  • What was the central argument of Norman Angell's 'The Great Illusion'?
  • What post-war institutions eventually drew on Angell's idea that interdependence deters conflict?
Almanac Why Sweden Sells Timber and Kuwait Sells Oil
  • What is the Heckscher-Ohlin model, and how does it explain trade patterns beyond what Ricardo's theory accounted for?
  • How can a customs union make all of its member countries worse off, according to Meade's analysis?
  • What is the difference between trade creation and trade diversion, and why did it matter for policymakers?
Almanac Why Similar Countries Trade the Most
  • Why couldn't classical Ricardian trade theory explain why similar countries trade so heavily with each other?
  • How do economies of scale and consumer demand for variety explain why countries trade near-identical goods?
  • What did Krugman's economic geography work explain about why manufacturing clusters in particular cities?