Discover how absolute and comparative advantage influence global trade, highlighting real-world examples and implications for economic decision making.

David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

For the best part of two centuries, the principle of “comparative advantage” has been a foundation stone of economists’ understanding of international trade, both of why it occurs in the first place ...

In response to my earlier post, Paul Craig Roberts says that “If the factors can leave, they do not specialize within the country where they have a comparative advantage. They can move abroad where ...

This is the repository associated with the manuscript Competitiveness analysis to identify marginal suppliers in consequential LCA: A seaweed case. The repository is designed as a Python library to ...

Frank A. Wolak is a professor of economics and director of the Program on Energy and Sustainable Development at Stanford University. Updated January 19, 2011, 11:01 PM A basic economic theory of ...

Through the country's 'Make in India' policy, which aims to promote domestic entrepreneurship and attract foreign investment into high-tech export industries, India's focus on self-reliance has ...

In our research, we asked a question that is fundamental to understanding national and regional economies: what determines the spatial distribution of skills, occupations, and industries across cities ...