Nobel laureate Paul Samuelson (1969) once said of the concept of comparative advantage: That it is logically

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Nobel laureate Paul Samuelson (1969) once said of the concept of comparative advantage: “That it is logically true need not be argued before a mathematician; that it is not trivial is attested by the thousands of important and intelligent men who have never been able to grasp the doctrine for themselves or to believe it after it was explained to them.” (Source: World Trade Organization, https://www.wto.org/english/res_e/reser_e/cadv_e.htm.)

In what way do you think that comparative advantage is counterintuitive?

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3E Economics

ISBN: 9781292411019

3rd Global Edition

Authors: Daron Acemoglu, David Laibson , John List

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