Chapter 5: Clip 1 Mercantilism versus Comparative Advantage
voir la vidéoA look at two competing political economic philosophies used to explain why nations move away from autarky (i.e. self-sufficiency) and move towards international trade. One school of thought sees exports as good and imports as bad, sees trade as a tool for increasing state power, and is called mercantilism. The other sees trade as a method of increasing the general standard of living in a nation via specialization in production to exploit comparative advantages. [ voir sur Youtube.com ]
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: 02/09/08 20:58
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