Comparative Advantage And Trade

Posted by mjmedlock on March 16, 2011 in international economics |

Comparative advantage is a critically important concept to understand when talking about trade, and especially when you want to show doubters the potential benefits of free trade. I’ve found this very good video explaining the principle of comparative advantage. It’s both entertaining and enlightening and saves me the trouble of recording my own explanation!

I’ll be posting my own written explanation and example later in the week for people who prefer to read rather than watch. For now you have the video.

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