Russ Roberts on Smith, Ricardo, and Trade
EconTalk
00:00
Why a Skilled Person in a Pall Earns So Little Relative to an Unskilled American
In america, relatively or i would say, seemingly unskilled people make a lot more than an incredibly talented person in a pall. So why is that? And there a lot of different answers you could think about. David ricardo: Specialization and trade make us rich. The more America trades with nepal, the better both of us will be. Trade is mutually beneficial. It simply has to do with what we are good at.
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