Comparative Advantage and the Tragedy of Tasmania
- Title:
- Comparative Advantage and the Tragedy of Tasmania
- Description:
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What can a small, isolated island economy teach the rest of the world about the nature and causes of the wealth of nations? When Tasmania was cut off from mainland Australia, it experienced the miracle of growth in reverse, as the reduction in trade and human cooperation forced its inhabitants back to the most basic ways of living. In an economy with a greater number of participants trading goods and services, however, there are more ways to find a comparative advantage and earn more by creating the most value for others. Let's join Bob and Ann as they teach us the "Story of Comparative Advantage" like you've never seen it before.
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http://feedback.mruniversity.com/forums/256061-everyday-economics-boudreaux-on-trade-and-prospeAsk a question about the video:
http://mruniversity.com/courses/everyday-economics/comparative-advantage-and-tragedy-tasmania#QandA - Video Language:
- English
- Team:
Marginal Revolution University
- Project:
- Everyday
- Duration:
- 07:36
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Lilian Chiu edited Chinese, Traditional subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Lilian Chiu edited Chinese, Traditional subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Lilian Chiu edited Chinese, Traditional subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Lilian Chiu edited Chinese, Traditional subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Retired user edited French subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Hiba Moukaw edited Arabic subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Hiba Moukaw edited Arabic subtitles for Comparative Advantage and the Tragedy of Tasmania | |
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Hiba Moukaw edited Arabic subtitles for Comparative Advantage and the Tragedy of Tasmania |