Ep. 352 The Beauty and Importance of Comparative Advantage

Bob Murphy Show
16/10/2024 48 min Episodio 352
Ep. 352 The Beauty and Importance of Comparative Advantage

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Episode Synopsis

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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