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Comparative advantage isn't abolished just because the advantage is large. Economic participation by a class of entities who have a lower capacity for producti
by exratione 10y ago
Comparative advantage isn't abolished just because the advantage is large.
Economic participation by a class of entities who have a lower capacity for production than every other class of entities is still useful to all involved.
A great many of the world's prejudices, fears, and passionate causes are driven by ignorance of basic economic principles, and this is another example.
- Houshalter 10y agoComparative advantage only works if you have something of value to trade. If AIs automates away your job, then you no longer have anything of value to trade with.
- exratione 10y agoYour comment rather illustrates my point.