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.

Log-in to bookmark & organize content - it's free! Paul Craig Roberts, Economist and Senior Research Fellow at Stanford University's Hoover Institution, discusses comparative advantage and questions ...

Log-in to bookmark & organize content - it's free! The House Agriculture Committee hears testimony on how food production would be affected by the adoption of a North American Free Trade Agreement, ...

According to the general consensus in academia, Ricardo’s theory of international trade embodies the theory of comparative advantage. The principle of comparative advantage he proposed, based on the ...

This paper uses a Ricardian framework to clarify the role of microeconomic and macroeconomic factors governing the time-series and cross-sectional behavior of sectoral trade balances. Unit labor costs ...

Shannon Fiecke’s Monday column, “Steel tariffs are U.S. protectionism at its worst,” misapplies basic principles of economics. Although Fiecke is correct that the tariffs imposed by the Bush ...

I think we will all happily take, as a sterling standard of impossibility, the idea of my ever winning a Nobel in anything. Even the Peace Prize which has been offered to some pretty odd people over ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...