Keyword: trade
Gaining Through Comparative Advantage - recording transcript (1/16/2012)
Partial or complete specialization according to comparative advantage is a win-win strategy to increase total output, even though one party might enjoy absolute advantage over another party.
Keywords: absolute advantage, comparative advantage, opportunity cost, PPC, PPF, production function, production possibilities curve, production possibilities frontier, trade
The Case for Sweatshops (1/23/1999)
Sweatshops in low wage countries supplying goods to American companies may offer better paying jobs than other local firms.
Keywords: free trade, low wage labor, morality, sweatshops, trade