Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome. Comparison advantage is ...

David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

I think we will all happily take, as a sterling standard of impossibility, the idea of my ever winning a Nobel in anything. Even the Peace Prize which has been offered to some pretty odd people over ...

Let’s say for now that the day comes when robots and artificial intelligence can outperform human beings at every conceivable job, from waxing floors to waxing eyebrows to waxing philosophical at a ...

The Rambler American badge on trunk lid of a 1965 Rambler American, a compact car produced by American Motors Corp. To compete against much larger rival automakers, AMC developed comparative marketing ...

This is a preview. Log in through your library . Abstract Most of the literature on international trade under uncertainty has focused on technological uncertainty. The present paper, in contrast, ...

In textbook economics, trade is a win-win: Two countries trade freely based on comparative advantage and share the resulting gains, improving welfare in both countries. America’s trade with China is ...

With newly available data, I investigate to what extent countries' international trade exploits the very uneven water resources on a global scale. I find that water is a source of comparative ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

In 1817 the great English economist David Ricardo coined the phrase "comparative advantage" to identify activities that one nation can do better than most others. The concept here is that if the Swiss ...