WE can joke all we want about economists, their theories and forecasts, and the inexactitude they sometimes deal with, but economics definitely offers some profound truths. Comparative advantage is an ...

A comparative advantage occurs in economics, when a country can produce a good or service at a lower opportunity cost than another country. The theory of comparative advantage is attributed to ...

According to the general consensus in academia, Ricardo’s theory of international trade embodies the theory of comparative advantage. The principle of comparative advantage he proposed, based on the ...

To return again to that subject exercising so many of our finest economic minds at present. What happens when the robots get good enough to come and steal all our jobs? There's various possible ...

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 ...

Thanks to oil prices that have reached record levels, proponents of increased exploration in the United States have gained an upper hand in the debate over whether to drill in previously untapped ...

The country's economy is relatively small but diversified, which means there is need to look at specific areas that should be allocated more resources and effort to achieve a high standard of living ...

It is common knowledge that this island of ours has a considerable lack of resources and it is because of this reason that it has to radically invest in its comparative advantages, as there is simply ...

Economists love to talk about the theory of comparative advantage, which holds (somewhat counterintuitively) that two countries trading with each other will be better off if each specializes in what ...