Paul Samuelson illustrated this concept with a man who is both the best attorney and secretary in Chicago.
Paul Samuelson illustrated this concept with a man who is both the best attorney and secretary in Chicago. First introduced in an essay by Robert Torrens, this concept is modeled by the Hecksher-Ohlin theorem. Another economist explained this concept in On the Principles of Political Economy and Taxation, which used the example of the trade between British cloth and Portuguese wine. For 10 points, name this theory developed by David Ricardo, which states that countries should export goods that have the lowest opportunity costs, unlike absolute advantage.
Paul Samuelson illustrated this concept with a man who is both the best attorney and secretary in Chicago.
comparative advantage