WE can joke all we want about economists, their theories and forecasts, and the inexactitude they sometimes deal with, but economics definitely offers some profound truths. Comparative advantage is an ...

The first edition of A Concise Guide to Macroeconomics by David A. Moss was published in 2007—just as one of the world's great economic downturns was taking off. The second edition has just been ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Erika Rasure is globally-recognized as a ...

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.

Frank A. Wolak is a professor of economics and director of the Program on Energy and Sustainable Development at Stanford University. Updated January 19, 2011, 11:01 PM A basic economic theory of ...

The debates about Brexit and President Trump’s trade machinations have demonstrated the blindness of otherwise intelligent people to the Law of Comparative Advantage. Let me attempt a contemporary ...

It is common knowledge that this island of ours has a considerable lack of resources and it is because of this reason that it has to radically invest in its comparative advantages, as there is simply ...

It is common knowledge that this island of ours has a considerable lack of resources and it is because of this reason that it has to radically invest in its comparative advantages, as there is simply ...

Graham Lawton asks why we are often misguided, and begins by explaining that international trade is a win-win game because of comparative advantage (16 December 2017, p 28). He explains this in terms ...

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 ...