Because of comparative advantage, trade raises the living standards of both countries. Douglas Irwin (2009) calls comparative advantage “good news” for economic development. “Even if a developing ...

David Ricardo's concept of comparative advantage is an important premise in international trade theory because it explains how and why countries trade, even when one country can produce all things ...

But an absolute advantage that favors one or another actor under the silly rubric of "competitiveness" is regularly assumed to be the same as comparative advantage for cooperation. It's not.

Specialization isn't merely about cost but also about expertise built through years of labor training and industrial ...

What specific example does Moore provide to explain the law of comparative advantage?

What was going on? A few economists had long noted that comparative advantage wasn’t the only possible reason for international trade. Countries might also trade because production of some goods ...

Comparative Advantage and Free Trade. The House Agriculture Committee hears testimony on how food production would be affected by the adoption of a North American Free Trade Agreement, ...

After this week, we might need to rethink the concept of comparative advantage in trading relationships with the US. The winners in trade with the US won’t necessarily be those who can produce ...

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 ...

In The Wall Street Journal, Ben Wattenberg writes that immigrants help vitalize the American economy and maintain our traditions of hard work and patriotism.

This might surprise you: Public transit is this country’s true comparative advantage, as the economists like to say. Canada stands head-and-shoulders above the United States.

Because of comparative advantage, trade raises the living standards of both countries. Differences in comparative advantage may arise for several reasons. In the early 20th century, Swedish economists ...