Recent Development of International Trade Theory and Some of its Consequences

19  May 2016    4:00 pm

Yoshinori Shiozawa, Osaka City University, Japan


wiiw, Rahlgasse 3, 1060 Vienna, library (2nd floor)


A few people imagined that a new theory of international values emerges about 200 years after Ricardo’s Principles. The talk starts from the new interpretation of Ricardo’s four magic numbers. After a brief account of the new theory, it extends to some of its consequences. They include topics like global supply chains, fragmentations of production processes, and trade frictions caused by rapid liberalisation.

Yoshinori Shiozawa is Professor Emeritus at Osaka City University. He is the second president and a fellow of the Japan Association for Evolutionary Economics. He is one of the pioneers of complexity economics and a leader in evolutionary economics. He succeeded in building a new theory of international values in his book A Final Solution of the Ricardo Problem on International Values (in Japanese, 2014). All his English papers can be found on ResearchGate.