Russ Roberts on Smith, Ricardo, and Trade
EconTalk
00:00
What's the Difference Between Become a Better Hunter and Having the Opportunity to Buy a Sandwich?
Specialization and trade makes us all better off, even when we're identical. There are only two ways to improve your standard of living: theft or productivity. You can bang your neighbor over the head and take your stick the neighbor's stuff, or you can figure out ways to make your resources more productive. That is whether i do that by being a better hunter or by having the opportunity to buy a sandwich which means i don't have to spend the time making the sandwich myself.
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