Had a good exchange in the comments section (and on Twitter) yesterday about David Ricardo’s Law of Comparative Advantage. My point in writing “Eat. Pray. Lovin’ It.” was to illustrate that people have always liked to pick up quickly prepared food. Workers willingly trade their money to save the expense (time and money and hassle)Continue reading “What is Comparative Advantage?”
Tag Archives: Comparative advantage
Eat, Pray, Lovin’ It
On our way to the airport on the island of Bali (in Indonesia) we passed a McDonald’s restaurant. To some, McDonald’s represents the evil of corporations and their homogenization of the world, and its cultures, into one giant strip mall—McDonaldization. To me, McDonald’s represents what one writer calls “Ricardo’s Magic Trick.” We were returning homeContinue reading “Eat, Pray, Lovin’ It”
Nullius in Verba 