Yesterday I wrote a long and boring piece arguing that Ricardo’s famous Principle of Comparative Advantage rested on a single assumption–goods can move between countries but capital is frozen in place–that made sense then (1823) but not today. Further, I argued that he was way smarter than you or me and that if he were here today he would write if completely differently, turning much of the case for free trade on its head.
This is a quiz to see if you were paying attention yesterday. It only has one question. Good luck on the quiz.
Which of the two Ricardo’s above wrote the Principle of Comparative Advantage?
JR
