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victor cheng resume resume and job search strategies. resume resume victor cheng victor cheng resume victor cheng victor cheng consulting resume toolkit tutorial -.Ludwig von Mises, creator of the theory of comparative-advantage trade

The theory of comparative-advantage trade (specifically, the theory of comparative-advantage export) is an important explanatory theory for international trade; it states that trade is more likely when economic activity results in comparative advantages for the exporting countries, in particular, when exporting countries benefit from specializations that do not exist in importing countries.

History of the theory
In 1912, Ludwig von Mises published The Theory of International Trade, in which he (unintentionally) developed the theory of comparative-advantage trade. Mises analyzed the differences between the two largest groups of states at the time—the great powers—then briefly discussed international trade.

In 1920 Mises published his book Nationalo-Economic Conceptions, which develops the theory of comparative advantage as applied to real world trade, and which also has a chapter on international trade in which he presents the theory of comparative advantage as a general theory of international trade and discusses his reasons for introducing it into international trade. In 1934, Mises published the book Nationalo-Economic Conceptions, devoted entirely to developing the theory of comparative advantage as applied to real world trade.

There have been several theories about why exporting countries should be the countries that specialize in goods that other countries do not produce, and importing countries should be the ones that specialize in producing goods that other countries do not produce. The theory of comparative advantage is one of these. This theory assumes that people have preferences for various goods.

According to Mises, trade is more likely to happen, and furthermore, it will happen more rapidly, between countries if they have comparative advantages in at least one good. Since the goods produced by exporting countries have comparative advantages over the goods produced by importing countries, and vice versa, trade will happen more often between exporting and importing countries than between two countries without comparative advantages.

This theory implies that trade between other countries is more likely to happen when they have more specialized labor, and when they produce only the goods for which their labor is more specialized. This theory also implies that countries that have the same relative position in the production structure are likely to be trade partners.

The theory has been repeatedly criticized from the perspective of standard economics and political economy, since it does not recognize the

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