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 ...

With newly available data, I investigate to what extent countries' international trade exploits the very uneven water resources on a global scale. I find that water is a source of comparative ...

Mieko Nishimizu and John M. Page, Jr. This paper proposes a simple decomposition of the widely used DRC measure of international competitiveness into three distinct elements: (1) changes in ...

It’s very rare that one feels bold enough to disagree with Professor Diedre McCloskey on economics (or history or English or anything else she chooses to master or simply take an interest in, which ...

David Ricardo's concept of comparative advantage is an important premise in international trade theory because it explains how and why countries trade, even when one country can produce all things ...

Log-in to bookmark & organize content - it's free! Stephen Moore, longtime economic adviser to President Trump and visiting fellow at the Heritage Foundation, discusses the benefits of trade and the ...

Shannon Fiecke’s Monday column, “Steel tariffs are U.S. protectionism at its worst,” misapplies basic principles of economics. Although Fiecke is correct that the tariffs imposed by the Bush ...

Treasury Secretary Steven Mnuchin assured us on May 20 that the incipient trade war was “on hold.” Well, I guess the “hold” came off. The U.S. is now skirmishing with China, the European Union, Mexico ...