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> But this is again something that applies to individuals rather than countries. It applies to countries too. It’s the core argument of comparative advantage,
by mr_toad 2y ago
> But this is again something that applies to individuals rather than countries.
It applies to countries too. It’s the core argument of comparative advantage, and it’s been mainstream economic theory for over 200 years. Your argument is incomplete because you’re not considering the wages paid in other countries, and crucially, the exchange rate.
https://en.wikipedia.org/wiki/Comparative_advantage https://en.wikipedia.org/wiki/Comparative_advantage