Paul Krugman Quote

The idea of comparative advantage—with its implication that trade between two nations normally raises the real incomes of both—is, like evolution via natural selection, a concept that seems simple and compelling to those who understand it. Yet anyone who becomes involved in discussions of international trade beyond the narrow circle of academic economists quickly realizes that it must be, in some sense, a very difficult concept indeed.

"Ricardo's Difficult Idea," in G. Cook (ed.), Freedom and Trade: The Economics and Politics of International Trade, Volume 2 (1998)

The idea of comparative advantage—with its implication that trade between two nations normally raises the real incomes of both—is, like evolution ...

The idea of comparative advantage—with its implication that trade between two nations normally raises the real incomes of both—is, like evolution ...

The idea of comparative advantage—with its implication that trade between two nations normally raises the real incomes of both—is, like evolution ...

The idea of comparative advantage—with its implication that trade between two nations normally raises the real incomes of both—is, like evolution ...