117-Factor Endowment Theory Hecksher-Ohlin

Update: 2021-03-14

Description

Season 8: Factor Endowment Theory by Hecksher-Ohlin
This is a Noble Prize winner theory. It comprises a 2X2X2 framework. Two countries, two commodities, and two production factors capital & labor. The theory proposes that countries must trade with factors of productions in a higher proportion. It is also thus called the theory of factor proportions. We discuss this remarkable theory in its details.
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