The Great Ideas of the Social Sciences
What are the most important ideas ever put forward in social science? I’m not asking what are the best ideas, so the truth of them is only obliquely relevant: a very important idea may be largely …
Comparative Advantage
The Principles of Comparative Advantage: Why Tiger Woods Shouldn’t Mow Your Lawn
In economics, comparative advantage refers to the ability of a person or nation to produce a good or service at a lower opportunity cost than another person (or nation). This is why trade can create …