4 ms·
Econ 101 will only get you so far. Reductionist models attempt to reflect the real world but the real world rarely reflects reductionist models. Comparative adv
by boh 6y ago
Econ 101 will only get you so far. Reductionist models attempt to reflect the real world but the real world rarely reflects reductionist models. Comparative advantage for who? The US? The industry? The human race? Or the value of a legal entity for a short period of time when a reduction in costs gets them a bump in share value as the company gets hollowed out from the inside out. I don't know who decided to make mid-century Economics into an ideology, but we should try to evolve at this point.