01-16-2017, 03:12 PM
Quote:What you quoted was what I thought. Comparative advantage held in Ricardo's day because capitalists were leery of investing abroad for fear their property being confiscated by foreign governments (e.g. investment made in imperial Russia before 1917 or American oversea capital assets that were nationalized by socialist governments after WW II).
Well, I don't think Ricardo was really worried about Communist expropriation at the time. There is that, but also that a sole proprietor would actually have to move to a different country and culture, which is what he was talking about in the quote I provided.
Quote:What I was asking about was the silly thing to which you referred.
Remind me. What "silly thing"?