Routledge Dictionary of Economics, 3rd Edition

G

gains from trade (F1)

The increase in output or welfare received by a country, or the world as a whole, through international trade making possible specialization of production. The theory of COMPARATIVE ADVANTAGE demonstrates how this is possible.

See also: absolute advantage

gainsharing (J3)

Compensation for achieving targets in some aspect of a firm such as marketing or cost reduction; in a sense, a bonus system. The gain to the firm is often distributed to a team rather than to an individual.

Galbraith, John Kenneth, 1908–2006 (B3)

A Canadian–American liberal economist who has achieved astounding publishing success in his books on capitalism, the Great Depression, the affluent society and the industrial state. With a training in agriculture ...