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The principle of comparative advantage is one of the few things in economics that is both interesting, and true.
by krona 8y ago
The principle of comparative advantage is one of the few things in economics that is both interesting, and true.
- pjc50 8y agoOnly if there's a single metric for "better".
- smadge 8y agoIt is strange for you to think of culture as a commodity to be traded on the global marketplace. British steel and Chinese steel might be effectively indistinguishable, but the same can not be said of British media/values and Chinese media/values.
- rapsey 8y agoIf you live in a theoretical world with no basis in reality.
- antidesitter 8y agoReally? Are you saying comparative advantage doesn't exist?
- rapsey 8y agoOnly maybe in a pre-industrial world where economies are nothing but fishing, farming and mining. Our economies are largely service and manufacturing based. Is one country better at programming, manufacturing, cooking, etc. then another? All of these things are taught and developed. Any country can become good at any of these service or manufacturing jobs. China is a manufacturing powerhouse, but so is the US, Germany and South Korea. China and South Korea both had extremely clear strategies set forth by their governments to develop a manufacturing base over the past 30 years. What point in there in some comparative advantage theory? Nothing is innate and unchangeable. Just good economic policy.
- antidesitter 8y agoYour comment gives me the impression that you don't know what comparative advantage is. Comparative advantage doesn't mean things are "innate and unchangeable". That's nonsense.