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Comparative Advantage

America Rethinks Free Trade

Ralph Gomory | Posted 05.11.2016 | Politics
Ralph Gomory

There is an enormous gap between free trade as it is taught in textbooks and advocated by those who benefit from it and free trade as it is actually practiced in today's world. Textbooks still unabashedly teach the virtues of free trade, but their arguments assume a world of pure market forces.

When the Real World Confronts Trade Theories, the Real World Wins

Dave Johnson | Posted 08.05.2016 | Business
Dave Johnson

TPP covers a whole lot more than what we would think of as "trade." Regardless, let's look here at the idea that expanding trade is always good.

The Numbers Don't Lie

Daria Roithmayr | Posted 03.22.2014 | College
Daria Roithmayr

The lock-in model can help us to understand how it is that racial gaps may well persist indefinitely, even if all intentional discrimination were to end tomorrow.

What It Takes for Trade to Reduce Poverty in Africa

Otaviano Canuto | Posted 08.03.2013 | World
Otaviano Canuto

Despite tremendous progress in poverty reduction over the last two decades, poverty still persists. Along with South Asia, Africa is a region where large numbers of people continue to live in extreme poverty.

The Theory That's Killing America's Economy -- and Why It's Wrong

Ian Fletcher | Posted 06.07.2011 | Business
Ian Fletcher

There is no good reason -- regardless of what most economists say -- to assume that free trade is necessarily the best approach. The economic logic of those who say it is is riddled with enough holes to sink a container ship.

The Famous (and Almost Never Understood) Theory of Comparative Advantage

Ian Fletcher | Posted 06.07.2011 | Business
Ian Fletcher

You can read about the free trade controversy for months and never hear about it. But in the minds of real economists, it's there all the time, and it's big. I'm talking about the so-called theory of comparative advantage.

Education Cares About Technology, But Do Technologists Care About Education?

Meredith Ely | Posted 05.25.2011 | Education
Meredith Ely

The question to ask should not be "how many education companies are innovating on technology?" but rather "how many technology companies are innovating in education?"

Free Trade: Flawed Theory and Bad Policy

Stan Sorscher | Posted 05.25.2011 | Business
Stan Sorscher

Free trade works very well for investors, financial institutions, and large multinational companies. At the same time, our free trade agreements push aside interests of workers, communities and the environment.

The Myth of Comparative Advantage

Dr. Vladimir A. Masch | Posted 05.25.2011 | Business
Dr. Vladimir A. Masch

Today's "free trade" is not only the last remnant of laissez-faire -- it is its least deserving remnant, full of wholesale foul play, deception, currency manipulation, predatory techniques, and other violations of its rules.

Manufacturing and the Limits of Comparative Advantage

Ralph Gomory | Posted 05.25.2011 | Business
Ralph Gomory

Vague talk about future innovations, a post-industrial society, or an explosion of services exports is not the stuff on which to bet the prosperity of a nation.