Harry Johnson has provided a broad perspective from which to view the historical process whereby positions of comparative advantage are attained by the joint efforts of capital accumulation, checks on population growth, and investment in technological progress. In commenting upon his remarks I wish to focus more narrowly on two aspects of the interraction between technology and factor proportions.
KeywordsHome Country Wage Rate Skilled Labour Small Country Factor Proportion
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- 1.The following analysis is based on chapter 7 of the revised edition of Caves, R. E. and Jones, R. W., World Trade and Payments (Little, Brown, 1977).Google Scholar