The theory of comparative advantage assumes comparative advantage is static. Either you have a rich industrial base or you don't. Either you have gold deposits

The theory of comparative advantage assumes comparative advantage is static. Either you have a rich industrial base or you don't. Either you have gold deposits or you don't. Either you have cheap labor or you don't. It falls to pieces once you consider that comparative advantage is dynamic. While gold deposits are either there or not, an industrial base can be built using judicious application of tariffs and subsidies. As with most assumptions in economics (e.g. perfect information), it serves a purpose, although that purpose isn't to simplify the models - but to aid in the creation of politically useful models.