Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena tha
In this spirited and provocative book, Edward Leamer turns an examination of theHeckscher--Ohlin framework for global competition into an opportunity to consider the craft ofeconomics: what economists
The recent economic crisis--with the plunge in the stock market, numerous bankfailures and widespread financial distress, declining output and rising unemployment--has beenreminiscent of the Great Dep
In the early 1990s, trade and labor economists, noting the fall in wages for low-skilled workers relative to high-skilled workers, began to debate the impact of trade on wages. This debate—whic
Why do certain ideas gain currency in economics while others fall by the wayside? Paul Krugman argues that the unwillingness of mainstream economists to think about what they could not formalize led
The standard version of the Heckscher-Ohlin model of international trade treats the factors of production -- land, labor, and capital -- as essentially analytically similar and symmetrical. In these s
