A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...

Comparative advantage is the economic principle that an individual, firm, or nation faces a unique set of advantages and disadvantages relative to others in its production of particular goods and ...

It’s very rare that one feels bold enough to disagree with Professor Diedre McCloskey on economics (or history or English or anything else she chooses to master or simply take an interest in, which ...

David Ricardo's concept of comparative advantage is an important premise in international trade theory because it explains how and why countries trade, even when one country can produce all things ...

In textbook economics, trade is a win-win: Two countries trade freely based on comparative advantage and share the resulting gains, improving welfare in both countries. America’s trade with China is ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...