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 ...

The first edition of A Concise Guide to Macroeconomics by David A. Moss was published in 2007—just as one of the world's great economic downturns was taking off. The second edition has just been ...

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 ...

Andrew Ancheta is a finance editor who has reported extensively on cryptocurrency, NFTs, economics, and history. He previously worked as an editor for China Daily. Robert Kelly is managing director of ...

You have /5 articles left. Sign up for a free account or log in. The classical economists who originally brought us many of the ideas that have evolved into the ...

I think we will all happily take, as a sterling standard of impossibility, the idea of my ever winning a Nobel in anything. Even the Peace Prize which has been offered to some pretty odd people over ...

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 ...