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Is free trade always good for workers? Gene Tunny explores the Stolper-Samuelson theorem, which shows how trade can lower wages for some while benefiting others. He discusses key economic insights from Wolfgang Stolper and Paul Samuelson, real-world historical examples, and the implications for today’s global trade debates.
If you have any questions, comments, or suggestions for Gene, please email him at contact@economicsexplored.com.
The previous episode with Ian Fletcher:
Stolper and Samuelson’s 1941 paper “Protection and Real Wages”:
https://academic.oup.com/restud/article-abstract/9/1/58/1588589
William Bernstein’s book “A Splendid Exchange: How Trade Shaped the World”:
https://www.amazon.com.au/Splendid-Exchange-Trade-Shaped-World/dp/0802144160
Roger Backhouse’s book “Founder of Modern Economics: Paul A. Samuelson: Volume 1: Becoming Samuelson, 1915-1948”:
https://www.amazon.com.au/Founder-Modern-Economics-Samuelson-1915-1948/dp/0190664096
Edward Leamer’s paper on the Hecksher-Ohlin model in theory and practice:
https://ies.princeton.edu/pdf/S77.pdf
10% of Lumo Coffee’s Seriously Healthy Organic Coffee.
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Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.