Economists love to talk about the theory of comparative advantage, which holds (somewhat counterintuitively) that two countries trading with each other will be better off if each specializes in what ...

Log-in to bookmark & organize content - it's free! Stephen Moore, longtime economic adviser to President Trump and visiting fellow at the Heritage Foundation, discusses the benefits of trade and the ...

A neglected aspect of the debate is the principle of comparative advantage.

In the early 19th century David Ricardo formulated the principle of comparative advantage to explain mutual gains from trade among countries. He based it on a critical assumption: that capital did not ...

Companies occasionally analyze their competitors' weaknesses to turn those weaknesses into their own strengths, eventually increasing their market share. In many cases, they may only focus on ...

To many of the United States’ friends abroad, the results have been catastrophic not just for the American people and the U.S. economy, but also for its standing in the world. Timothy Garton Ash, a ...

In textbook economics, trade is a win-win: Two countries trade freely based on comparative advantage and share the resulting gains, improving welfare in both countries. America’s trade with China is ...

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 ...