David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Absolute and comparative advantage are economic concepts that help ...

Log-in to bookmark & organize content - it's free! The House Agriculture Committee hears testimony on how food production would be affected by the adoption of a North American Free Trade Agreement, ...

Add articles to your saved list and come back to them any time. After this week, we might need to rethink the concept of comparative advantage in trading relationships with the US. The winners in ...