For the best part of two centuries, the principle of “comparative advantage” has been a foundation stone of economists’ understanding of international trade, both of why it occurs in the ...

Humans have dominated the planet by telling stories; Yuval Noah Harari says we may soon no longer hold the pen Unlike the fictional Homo economicus, the hyperrational model used to explain our ...

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 ...

From Japan in the 1980s to China and the Asian Tigers in the 1990s, followed by Vietnam in the 2000s and India with its services exports—each is a testament to how comparative advantage fuels trade.