Discover how the Home Market Effect explains global trade patterns, why large countries become net exporters, and ...

Discover how globalization enhances comparative advantage, driving economic efficiency in both developed and developing ...

Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome. Comparison advantage is ...

The debate about the Trans Pacific Partnership is certainly different than free trade debates of the past. For one thing, you have smart erstwhile proponents of free trade like Tim Lee raising ...

The great mathematician Stanislaw Ulam challenged the great economist Paul Samuelson to name a principle in the social sciences that was both true and nonobvious. Samuelson thought for a bit, then ...

It is a dog-eat-dog world. The completion is ruthless. Nowhere is this truer than in business and economics. Providing for yourself and family is tough. Statistics on income distribution suggest that ...

The Royal Swedish Academy of Sciences announced yesterday that the 2008 winner of the Nobel Prize in Economic Sciences is Paul Krugman. A professor at Princeton University, Mr. Krugman is known to the ...

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...