Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome. Comparison advantage is ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Absolute and comparative advantage are economic concepts that help ...

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.

It’s very rare that one feels bold enough to disagree with Professor Diedre McCloskey on economics (or history or English or anything else she chooses to master or simply take an interest in, which ...

I think we will all happily take, as a sterling standard of impossibility, the idea of my ever winning a Nobel in anything. Even the Peace Prize which has been offered to some pretty odd people over ...

Let’s say for now that the day comes when robots and artificial intelligence can outperform human beings at every conceivable job, from waxing floors to waxing eyebrows to waxing philosophical at a ...

Shannon Fiecke’s Monday column, “Steel tariffs are U.S. protectionism at its worst,” misapplies basic principles of economics. Although Fiecke is correct that the tariffs imposed by the Bush ...

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Frank A. Wolak is a professor of economics and director of the Program on Energy and Sustainable Development at Stanford University. Updated January 19, 2011, 11:01 PM A basic economic theory of ...

SADLY, the article is behind The Atlantic's paywall, but Clive Crook's essay on the the puzzle of why scepticism about free trade seems to be waxing despite the fact that there is no new theory or ...

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 ...