Quotes About Comparative advantage

We could have managed globalization in ways that ordinary citizens would have benefited rather than just the corporations. Trade is beneficial. There are gains to be had from taking advantage of comparative advantage and specialization. That's true, if you manage globalization right.

Equestrian horses have a life better than 80 percent of Moroccans

These developments were not due to a conspiracy among the rich nor simply to colonialism (although it played a role). They were the result of one of the fundamental principles of economics – comparative advantage.

Pero aunque el país más pobre, a pesar de la inferioridad de sus cultivos, puede en alguna medida rivalizar con el rico en la baratura y calidad de sus granos, no podrá competir con sus industrias, al menos en las manufacturas que se ajustan bien al suelo, clima y situación del país rico.

The U.S. tends to export high-tech goods because we have strong comparative advantage there, and we tend to import labor-intensive and less skill-intensive goods that other countries can do more cheaply.

Every great political campaign rewrites the rules; devising a new way to win is what gives campaigns a comparative advantage against their foes.

Firms gain comparative advantage from how good their people are. Retaining and attracting talent is a key point of competitive advantage in the global economy. We are seeing that play out, and there are implications for Australia, too. The idea that companies now compete on who can pay their workers the lowest - that's all changing.

This is where the whole ape-descended thing reveals its worth, I thought madly. Sucks to be you, quadruped. Opposable thumbs - don't leave home without them.

It is common to find that two traders both think their counterparts are idiotically overpaying: that is the beauty of Ricardo's magic trick.

What then do you think is my advantage over you?

Ricardo was right in thinking that very different nations may be able to trade to mutual gain, but comparative advantage is not only what you are blessed with: it is something you can build.

Thousands of important and intelligent men have never been able to grasp the principle of comparative advantage or believe it even after it was explained to them

In a world where technology and capital are highly transferable, there is a real risk that comparative advantage comes to be defined as whose labor force will work for the lowest wage.

Economists have understood since the Victorian era that the main benefits of trade come from comparative advantage: the idea that people can specialize in what they're good at and then benefit from exchange. The principle is no more mysterious than specialization in the labor market.

When a dictator abuses his authority, there is no legal way to stop him. When a free society falters, we still have the ability—through open debate and the selection of new leaders—to remedy those shortcomings. We still have time to pick a better egg. That is democracy's comparative advantage, and it should be recognized and preserved.