David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

According to the general consensus in academia, Ricardo’s theory of international trade embodies the theory of comparative advantage. The principle of comparative advantage he proposed, based on the ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

David Ricardo published "On the Principles of Political Economy and Taxation" on April 19 1817. This is the work that described the principle of comparative advantage and thus explained to us all why ...

In this paper, I consider a specific channel through which trust between parties to an exchange can go on to affect nations’ comparative advantage in certain industries. My approach revolves around ...

In textbook economics, trade is a win-win: Two countries trade freely based on comparative advantage and share the resulting gains, improving welfare in both countries. America’s trade with China is ...

As calls grow for Beijing to embrace digital currencies, e-payment giants seen as aiding yuan's global push China already has de facto stablecoins in the form of WeChat Pay and Alipay, a top economist ...