“It is here we come to the heart of the matter. The economic principle of comparative advantage', 'a country may, in return for manufactured commodities, import corn even if it can be grown with less labour than in the country from which it is imported”
Quote by David Ricardo
Author
David Ricardo
David Ricardo (April 18, 1772 - September 11, 1823) was a British economist and one of the key figures in the classical school of economics. He is known for his theory of comparative advantage, which has had a profound impact on the development of economics. more
You May Also Like
“If the gains from trade in commodities are substantial, they are small compared to trade in ideas”
“The river of my title is a river of DNA, a river of information, not a river of bones and tissues”
Source: River Out of Eden: A Darwinian View of Life
“Cost is always an object - the second law of thermodynamics sees to that”