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Free trade, comparative advantage, etc are mental models for thinking about trade. They make about as much sense as an ideology as having an ideology of fricti
by buescher 4y ago
Free trade, comparative advantage, etc are mental models for thinking about trade. They make about as much sense as an ideology as having an ideology of frictionless pulleys or spherical cows.
- mikymoothrowa 4y agoAnd they can only exist in the fictional economics textbook universe where currency and financial machinations don’t exist.
- imtringued 4y agoAlso, there is no concept of time and space, everything happens instantaneously.
- imtringued 4y agoThe comparative advantage of England was wool. They didn't get the memo and started the industrial revolution instead.