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Comparative Advantage and Trade

Production Possibilities

The site has a collection educational materials. Here is a simple, standard exposition of the production-possibilities frontier:

Exchange and Consumption

One of the important insights that can be gotten from the production-possibilities frontier is that exchange can benefit both parties especially when they are very different:

Free Trade

Alan Blinder explains the case for free trade in this essay in The Concise Encyclopedia of Economics:
(Since he wrote this piece, he has had some second thoughts, worrying that the transition costs may sometimes be unacceptably large: )

Comparative Advantage

Paul Krugman shows why he is one of the most effective polemicist among economists as he takes to task scholars who write about international trade without understanding the concept of comparative advantage:

Barriers to Trade

Jagdish Bhagwati expounds on protectionism and fair trade in this contribution in The Concise Encyclopedia of Economics:

Who Is Dismal Now?

One of the insights of economics is that exchange can be positive-sum. A column in the Washington Post explains why this insight matters in the world of public policy: 

These links were checked on July 5, 2008.

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