4 ms·
You are wrong in a very classical, meaning half of earthlings believe this misconception. Trade can make both sides richer. Some would say any voluntary trade
by dandare 5y ago
You are wrong in a very classical, meaning half of earthlings believe this misconception.
Trade can make both sides richer. Some would say any voluntary trade makes both sides richer, but that depends on your definition of voluntarism and exploitation of someone's weakness.
Anyway, for trade that makes both sides really richer in any sense of that word see https://en.wikipedia.org/wiki/Comparative_advantage#Ricardo's_example https://en.wikipedia.org/wiki/Comparative_advantage#Ricardo'...
- rootsudo 5y agoI disagree (again) because knowing something sells for a lower amount in X but sells for higher in Y is classical information arbitrage and opportunity cost.