Trade Wars Are Class Wars: Part II - Smith, Ricardo, Containers, and Tax Law After the ‘End of History’

After the ‘End of History’ is a podcast about International Relations and History. It is part of the Hawks & Sparrows project. 
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Mario and Tom 
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Welcome to Episode 20 of After the 'End of History.' 

Adam Smith's thoughts on industrial specialization and David Ricardo's theory of comparative advantage take center stage in this week's discussion on Chapter 1 of Pettis & Klein's Trade Wars Are Class Wars. We also consider how the history of globalization has borne out their insights in light of the rise of containerization and the production of intermediate goods around the globe.

While the world's economy operates in an increasingly interconnected manner, the methods by which economists traditionally track international trade have been disrupted by breathtaking Tax Avoidance schemes and overly simplified bilateral trade accounting. We discuss the role this plays in distorting the true extent of global economic integration, which can lead to harmful macroeconomic policy and create unnecessary tensions in the interstate system (chiefly between the US and China). 

The music that you hear on After the 'End of History' is kindly provided by Jason King.

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