Russ Roberts on Smith, Ricardo, and Trade
EconTalk
00:00
How to Maximize the Size of the Pie
There's two ways to get venison. There's the direct way, you go out and you be a hunter. The indirect way is to make sandwiches and swap them for meat. That's the roundabout way to produce stuff trade. If we want stuff, we can either make it for ourselves, or we can make other stuff that people want that's important, or they won't trade with us. And then exchange it.
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