Ricardian
- adjective
- /rɪˈkɑrdɪən/
- Specialized
- The Ricardian model illustrates how countries can benefit from trade by specializing in their comparative advantages.
Examples
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But that is not what Mankiw does when he reaches his tentative conclusion in favor of the Ricardian model.
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The yellow regions on this map show very clearly who will "own the sun" in Ricardian terms.
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The Ricardian model is great for illustrating that countries as a whole can benefit from trade.
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This distinction represents a contrast between Ricardian and non-Ricardian policies.
Academic text (2017) -
When I teach international trade theory, my students find that the Ricardian model is the simplest and easiest-to-grasp illustration of the answer to one big question: can international trade leave both countries better off?
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This is one simple way of translating the basic Ricardian model (in which trade expands both trading partners' consumption opportunities) into a language that is a bit more familiar to the general public.
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In discussions of trade theory, the Ricardian perspective emphasizes the importance of resource allocation for optimal economic outcomes.
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Supporters of the Ricardian approach argue that free trade leads to increased efficiency and overall welfare for nations.
Surface Forms
Morphology
Ricardian = Ricardo (opaque) = Ricard + ian
The root 'Ricard' refers to the economist David Ricardo, which is not a standalone English word. The suffix '-ian' denotes relating to or characteristic of.
Etymology
Ricardian comes from two personal names: the economist David Ricardo and the king Richard. So, the adjective Ricardian can mean 'connected to Ricardo's ideas about trade' or 'connected to supporters of Richard III'.