Report Card for Donald Trump

[SomeGuy]

(01-16-2017, 03:20 PM)Mikebert Wrote:

(01-10-2017, 01:28 PM)SomeGuy Wrote: You mention comparative advantage, you might want to look up what David Ricardo actually said concerning situations where one trading partner has a consistent advantage in all or most goods, what he thought that might do to the other country, and the ridiculous thing that he thought would prevent it.

Here.

Thanks.  That's largely where I was going with that, that the "feelings" (which might have been a logical assumption at the time for all the reasons stated) that would prevent the mobility of capital are long since defunct, and in another section (concerning automation, funnily enough.  Oh how things change) that lower prices do not necessarily benefit workers if the decline in their income exceeds the price difference between old and new goods.

I suppose it's only really ridiculous if you consider that people still cite him now without actually, reading what he wrote and how the situation might be different today.