Standard trade theory views the capital stock as an endowment. However, trade policy can affect a country's steady-state capital stock. By ignoring the endogeneity of capital, standard analysis is ...

THE STOLPER-SAMUELSON THEOREM….Over at Max’s place, Josh Bivens tells us about something called the Stolper-Samuelson Theorem, which predicts that workers without a college degree always get screwed ...

Recent discussions of the effects of globalization and technological change on U.S. wages have suffered from inappropriate or missing references to the basic international trade theorems: The Factor ...

IN AUGUST 1960 Wolfgang Stolper, an American economist working for Nigeria’s development ministry, embarked on a tour of the country’s poor northern region, a land of “dirt and dignity”, long ruled by ...