Ricardo’s Difficult Idea

Paul Krugman used to be a terrific economist.  One of his lesser-known essays is about David Ricardo and comparative advantage.  The essay is still available on the MIT website.  I’ve included a pdf version below.  This article is about Ricardo’s difficult idea — comparative advantage.

I’ve been meaning to write about why economists support free trade.  Having been reminded of the pitfalls I will proceed much more carefully than usual.

Ricardos Difficult Idea
Share if you feel like it

About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.