Good Economics for Hard Times

Notes

• Comparative Advantage - the idea that countries should do what they are relatively best at doing. Oposed to Absolute advantage it suggests that even if one country is absolutely best at producing everything it will still end up specializing in the product where they have comparative advantage.

Info

Title: Basic Economics: A Citizen’s Guide to the Economy
Author: Thomas Sowell
ISBN10: 0465060730
ISBN13: 9780465060733