Russ Roberts on Smith, Ricardo, and Trade
EconTalk
00:00
Are We All Identical?
The number of tasks that's appropriate for us to specialize in emerges from our inner actions, and it emerges from our innovations at emerges from our ontrapenurial insights. So smith by this silly assumption that people are all the same, we can see right away, not right away, but we can see that even in the wore we're all identical, there's potential for trade. And i say it's important because when we teach comparative advantage in trade, we often get stuck in this two by two matrix. We don't know how many tasks there are,. The end is unknown. There's no book that says what the end tasks are. They have to be figured out by
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