There’s a reason why, in times of war, countries have blockaded others.
We don’t have to have to be like Brady and have an absolute advantage to profit.
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.” — Adam Smith
The work you do probably does not produce something you could consume. Even more striking is the fact that almost everything you consume is something you could not possibly produce. Your daily life depends on the cooperation of hundreds of millions of other people.
Homo economicus got its start way back when two humans decided to trade. The rest was history.
The presidential campaign has brought up several economic issues, and international trade has been front and center of the debate. So, as I look at my Donald Trump tie that was made in China and my Donald Trump shirts that were made in Bangladesh and Indonesia, I want to clarify some basic economic concepts dealing […]