“…The blinkering of vision by HO theory, with its assumption of costless factor mobility within countries, also had the unfortunate effect of causing economists to forget that the social costs of expansion of trade tend to be concentrated on narrowly defined industries, occupations and—with strong persistence—localities (Autor, Dorn, & Hanson, ; Dix‐Carneiro & Kovak, ). This concentration of effects and associated adjustment costs, long recognised in specific‐factors theory and in the political economy of trade policy, was for example discussed in less than 500 words of the 500‐page Wood (), being sidelined by the simpler—though also important—view of skilled workers as a class gaining at the expense of unskilled workers.…”