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That is comparative advantage in a (coco)nutshell: If everyone pursues their own area of specialization, we are all better off. The same is true of countries.
Cross-country differences in efficiency at R&D versus manufacturing (i.e., comparative advantage) bear importantly on the growth effects of economic structure and commercial policies. The American ...
Current examples include the Future Made in Australia proposals and the US Inflation Reduction Act. Why is comparative advantage relevant to these discussions?
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