Economists use the Theory of Comparative Advantage to analyze the uses and benefits of free international trade. What is the theory of comparative advantage, and what are its strengths and weaknesses?
Use these references to complete assignment
Felipe, J., & Vernengo, M. (2002). Demystifying the principles of comparative advantage.International Journal of Political Economy, 32(4), 49-75.
Costinot, A., & Donaldson, D. (2012). Ricardo’s theory of comparative advantage: Old idea, new evidence. American Economic Review, 102(3), 453-458. doi:10.1257/aer.102.3.453
Fox, Eleanor (2016). Competition Policy: The Comparative Advantage of Developing Countries. Law and Contemporary Problems, 79(69), 69-84.
Gagne, Gilbert (2019). Trade and Culture: The United States. International Journal of Cultural Policy, 25(5), 615-628.
Redding, S. (1999). Dynamic comparative advantage and the welfare effects of trade. Oxford Economic Papers, 51, 15-39.