BY: Adam Gavriel
The Heckscher–Ohlin model of economic trade suggests that producers of abundant resources will favor free trade while the holders of scarce resources will favor protectionism. With this, those who have a hold of the abundant resources will become rich while those holding the scarce resources, who can’t find anyone to export those resources to, will watch their business flounder.
This theory can be applied to any market, today we will specifically look at the job market. With the United State’s unemployment continuing to hover over 9% the job market finds itself abundant in potential labor, however, it goes deeper that. To make sure that you can export a feature of yourself to make you useful to a company that is, in essence, importing you, it needs to be abundant.