{"product_id":"understanding-global-trade","title":"Understanding Global Trade","description":"\u003cp\u003eGlobal trade is of vital interest to citizens as well as policymakers  yet it is widely misunderstood. This compact exposition of the market forces underlying international commerce addresses both of these concerned groups  as well as the needs of students and scholars. Although it contains no equations  it is almost mathematical in its elegance  precision  and power of expression.  Understanding Global Trade provides a thorough explanation of what shapes the international organization of production and distribution and the resulting trade flows. It reviews the evolution of knowledge in this field from Adam Smith to today as a process of theoretical modeling  accumulation of new empirical data  and then revision of analytical frameworks in response to evidence and changing circumstances. It explains the sources of comparative advantage and how they lead countries to specialize in making products which they then sell to other countries. While foreign trade contributes to the overall welfare of a nation  it also creates winners and losers  and Helpman describes mechanisms through which trade affects a countrys income distribution.  The book provides a clear and original account of the revolutions in trade theory of the 1980s and the most recent decade. It shows how scholars shifted the analysis of trade flows from the sectoral level to the business-firm level  to elucidate the growing roles of multinational corporations  offshoring  and outsourcing in the international division of labor. Helpmans explanation of the latest research findings is essential for an understanding of world affairs.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":44952354553909,"sku":"ByrdShop_0674060784","price":35.72,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780674060784.jpg?v=1770160418","url":"https:\/\/atxbooks.com\/products\/understanding-global-trade","provider":"ATX Books","version":"1.0","type":"link"}