Many developing countries have an absolute advantage in the price of unskilled labor. |
And even if a country were the most efficient in every industry, giving it an absolute advantage in everything, it could not have a comparative advantage in everything. |
If absolute advantage rules, capitalism itself will redistribute income and wealth from rich countries to poor ones. |
The Commission's objective was to foster comparative not absolute advantage. |
However, as David Ricardo famously demonstrated, specialization and trade can benefit even a country that has an absolute advantage in all industries. |
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