Comparative advantage is the economic principle that an individual, firm, or nation faces a unique set of advantages and disadvantages relative to others in its production of particular goods and ...

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 ...

You can read about the free trade controversy for months and never hear about it. But in the minds of real economists, it’s there all the time, and it’s big. I’m talking about the so-called theory of ...

A comparative advantage occurs in economics, when a country can produce a good or service at a lower opportunity cost than another country. The theory of comparative advantage is attributed to ...

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 ...

It’s very rare that one feels bold enough to disagree with Professor Diedre McCloskey on economics (or history or English or anything else she chooses to master or simply take an interest in, which ...

A person is said to possess comparative advantage in producing a good if he can produce it at a lower opportunity cost. For example, a high-skilled surgeon who earns millions would lose a lot more (in ...

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 ...

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 ...

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 ...