The Unknowers by Unknown
Author:Unknown
Language: eng
Format: epub
ISBN: 9781780326382
Publisher: Book Network Int'l Limited trading as NBN International (NBNi)
Published: 2019-07-14T16:00:00+00:00
FINE IN THEORY
Ricardo was born a generation after Smith, and much like Smith, he hoped that curbing trade monopolies would lead England’s wealth to be distributed more fairly. But he differed from Smith in important ways. His main innovation over Smith was to argue that even countries which had a weaker absolute advantage in trading terms could still benefit from lowering or removing trade protections, because the nations positioned themselves to exploit relative differences in labour and other costs of production, reducing the price of consumer goods.
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