"As was the case with Smith's original observations on specialization and market size, we shall need a tractable analytical framework to make progress on this issue. The two Helpman and Krugman monographs have amply shown that when Smith's ideas are developed within a clear theoretical framework, they contain some surprising implications. They are, I think, outstanding illustrations of why we work to construct useful, explicit theories rather than being content with good rules of thumb."
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Academics from the United StatesEssayists from the United StatesColumnists from the United StatesBloggers from the United StatesEconomists from the United States
Original Language: English
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Robert Lucas, Jr., Review of Trade Policy and Market Structure by Elhanan Helpman and Paul R. Krugman, Journal of Political Economy, Vol. 98, No. 3 (Jun., 1990)
https://en.wikiquote.org/wiki/Paul_Krugman
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Paul Krugman
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