Reaction Essay

Anonymous
account_balance_wallet $15

Question Description

The assignment is to read the following two essays on comparative advantage and trade, then write a response essay on the topic.

1. The first essay is by the economist Paul Krugman, who is a columnist for the New York Times. He won the Nobel Prize in Economics in 2008 for his contributions to trade theory. The Nobel Committee explains,

"Traditional trade theory assumes that countries are different and explains why some countries export agricultural products whereas others export industrial goods. The new theory clarifies why worldwide trade is in fact dominated by countries which not only have similar conditions, but also trade in similar products – for instance, a country such as Sweden that both exports and imports cars. This kind of trade enables specialization and large-scale production, which result in lower prices and a greater diversity of commodities."

Krugman's essay is from a book of essays on international economics. The essay is called "Ricardo's Difficult Idea" and discusses why he believes so few people share the consensus of professional economists on comparative advantage.

Link to the essay: http://web.mit.edu/krugman/www/ricardo.htmLinks to an external site.

2. The second essay is titled "A Petition" by the 19th Century political economist Frederic Bastiat. The essay is sometimes also referred to as "The Candlemaker's Petition", and it is a satirical essay that deals with common objections to international trade.

Link to the essay: http://econlib.org/library/Bastiat/basSoph3.html#S.1, Ch.7, A Petition (you may have to copy and paste this link).

The assignment is to write a response to these essays that discusses the following questions:

1) Who was the audience for each essay? How did those audiences differ?

2) Are the arguments presented largely positive or normative? Do the authors tones differ?

3) What positive argument is each author giving in support of open trade? Do they directly address common objections?

Your response should not exceed 2000 words, and should be at least 1250 words.

Tutor Answer

NicholasI
School: Rice University

Hi, kindly find attached

Running Head: REACTION ESSAY

1

Reaction Essay on Two Economics Essays
Student’s Name
Institution
Date

REACTION ESSAY

2

Introduction
Comparative advantage as a theory is one that many regards as the most important
concept and specifically to international trade. The approach focuses and aims to boost the
interdependence of countries on each other. It is all about how every country needs the other to
survive. Every country needs the other to supply it with commodities they cannot produce
themselves. It is my personal opinion that comparative advantage not only makes sense but is
also necessary in the modern world economy. It is also a key concept in achieving the idea of
globalization.
The second essay is about Economic sophisms, and it is built on the idea that
international trade leads to more harm than good. In this essay, the French economist Frederic
Bastiat explains how a global company from outside will lead to the collapse of indigenous
companies that are within the borders of a country. This paper would aim to clarify to which
audiences these two economists were addressing, how the viewers may be different in one way
or another if they were normative or mostly positive. It will also compare the tone of the two
speakers in their addresses and touch on other related topics.
Who was the audience for each essay?
In Paul Krugman's essay, the audience was a group of journalists. He was talking to
them about their perception and coverage of the importance of international trade and how it can
benefit a country. In some way, he was challenging them to show the world how international
trade and its promotion is the ...

flag Report DMCA
Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

Similar Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors