4 ms·
Why, After 200 Years, Can’t Economists Sell Free Trade?
- nabla9 9y agoThe problem is that people have strong but wrong intuition of how the world trade works. Stanislaw Ulam asked Paul Samuelson to name one theory in all of the social sciences which is both true and nontrivial. Samuelson named the theory of comparative advantage. "That it is logically true need not be argued before a mathematician; that is not trivial is attested by the thousands of important and intelligent men who have never been able to grasp the doctrine for themselves or to believe it after it was explained to them."