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December 12, 2005
Heckscher-Olin Trade Game
I found this interesting game on the Nobel Foundations site. It is a game about the Heckscher-Olin model of trade. It is a simulation that is a bit simple, but still shows thesis point that if countries engage in and benefit from trade if their production resources differ from each other. Protectionism still sells, as James Sheehan put it.
As a simple introduction, that is a bit fun, to trade theory it might be good, but the Heckscher-Olin model has sometimes been used (wrongfully) to say that we should not trade with countries that are too similar to us. In effect we might even gain from that type of trade.
Posted by Waldemar at December 12, 2005 03:30 PM