Exactly what I taught my students for decades: .Just think of Ricardo's theory of comparative advantage in international trade:
Portugal should sell wine to Britain for income to buy British industrial products, Britain should make steel. Except when you make wine you can sell wine to Britain. When you make steel, you can not only build things that make you more money than wine does, you can build the largest fleet in the world to dominate world commerce, attack other countries, and rule the world. But yeah, a pound made selling wine is the same as a pound made making steel. Sure. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#43462): https://groups.io/g/marxmail/message/43462 Mute This Topic: https://groups.io/mt/121329072/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
