|
|
How much notice do you have to give? http://xnxx.photography/ xnxx videos The main thing I take from this is that the authors don’t seem to understand what comparative advantage is. (Hint: It’s NOT the same thing as competitive advantage.) Comparative advantage refers to the ability to produce at lower opportunity cost. There are two ways to have a comparative advantage- be good at producing something or be bad at producing other things. The Korean comparative advantage that the authors refer to is likely a little from column A and a little from column B. The authors also seem to be using “economy” and “producers” interchangeably, as in “And Econ 101 never explains how foreign mercantilist practices, like those China is embracing, can hurt the U.S. economy.” In reality, the economy consists of both producers and consumers, and consumers benefit from the cheap stuff generated as a result of these policies. (Believe me, there are plenty of reasons to be wary of China, but “they’re sending us cheap junk” is not at the top of that list.) I’m not even sure what to make of the last paragraph except to point out that the gains from trade don’t really rely on WHY a particular nation has a cost advantage.
|
|
