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SUMMER SCHOOL 6: Trade & The Better Life
Planet Money
Comparative Advantage in T-Shirts
Columbia still has an absolute advantage when it comes to sewing some of the more complicated, intricate t-shirts with tailoring and v-necks like the Planet Money Women's shirt was. The factory that makes the t-shirts thinks we might be better off changing our business by becoming a clothing retailer or designing clothes. And then they could get those clothes actually sewn in a country where workers might be a little less skilled,. but they will be able to make the clothes for a lot less money. That is comparative advantage, right?
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