Ep. 352 The Beauty and Importance of Comparative Advantage

Update: 2024-10-16

Description

Bob goes solo to explain Adam Smith's absolute advantage versus David Ricardo's comparative advantage. This important concept underpins civilization itself.

Mentioned in the Episode and Other Links of Interest:

The infineo post on this numerical example.
Bob’s book Lessons for the Young Economist has a discussion of comparative advantage (see chapters 8 and 19).
Help support the Bob Murphy Show.

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Ep. 352 The Beauty and Importance of Comparative Advantage

#box-pro-ellipsis-173228100881976{-webkit-line-clamp:2;}Ep. 352 The Beauty and Importance of Comparative Advantage

Ep. 352 The Beauty and Importance of Comparative Advantage

Robert Murphy

Ep. 352 The Beauty and Importance of Comparative Advantage