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 ...

Comparative advantage refers to the fact that a country can produce a product with lower opportunity cost than another product and thus can focus on products and export products with even lower ...

In the early 19th century David Ricardo formulated the principle of comparative advantage to explain mutual gains from trade among countries. He based it on a critical assumption: that capital did not ...

This paper contributes to the clarification of the emergence of mutualistic relations by means of the Law of Comparative Advantage. Developed in economics and applied metaphorically in biology, this ...

World Review of Political Economy, Vol. 15, No. 3 (Fall 2024), pp. 338-373 (36 pages) According to the general consensus in academia, Ricardo’s theory of international trade embodies the theory of ...

Students who take Economics 101 usually hear a story about international trade. It goes like this: "There's a guy in the state of Michoacán, Mexico, who is really good at growing avocados. There's ...

DURING the 1990s, the concept of comparative advantage served as the economic foundation for agricultural production, guiding the cultivation of crops and livestock. At the time, economists emphasised ...

East Asia's successful economies have achieved astonishing economic growth through export-driven development. They have exploited their comparative advantage of having an abundance of lower-skilled ...

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 ...