Robert C. Merton is the John and Natty McArthur University Professor at the Harvard Business School. He holds a B.S. in engineering mathematics from Columbia University (1966) and an M.S. in applied ...

If David Ricardo had lived beyond the age of 51, how might he have delivered a lecture on comparative advantage? I argue that Ricardo infers the direction of comparative advantage and the size of the ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

Comparative advantage is the economic principle that an individual, firm, or nation faces a unique set of advantages and disadvantages relative to others in its production of particular goods and ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

David Ricardo published "On the Principles of Political Economy and Taxation" on April 19 1817. This is the work that described the principle of comparative advantage and thus explained to us all why ...

Andrew Ancheta is a finance editor who has reported extensively on cryptocurrency, NFTs, economics, and history. He previously worked as an editor for China Daily. Robert Kelly is managing director of ...

In textbook economics, trade is a win-win: Two countries trade freely based on comparative advantage and share the resulting gains, improving welfare in both countries. America’s trade with China is ...