Recent empirical studies of the determinants of multinational activity across countries have found overwhelming support for a horizontal rather than a vertical model of foreign direct investment (FDI) ...

Kennedy, Robert E., and Nancy F. Koehn. "Economic Gains from Trade: Comparative Advantage." Harvard Business School Background Note 796-183, June 1996. (Revised November 1996.) ...

This paper investigates an empirical puzzle in technology adoption for developing countries: the low adoption rates of technologies like hybrid maize that increase average farm profits dramatically. I ...

David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

David Ricardo published "On the Principles of Political Economy and Taxation" on April 19 1817. This is the work that described the principle of comparative advantage and thus explained to us all why ...

Let’s say for now that the day comes when robots and artificial intelligence can outperform human beings at every conceivable job, from waxing floors to waxing eyebrows to waxing philosophical at a ...