Do you understand the concept of "comparative advantage"?
Poll: Do you understand the concept of "comparative advantage"?
Total Members Polled: 48
Discussion
A little poll to satisfy my curiosity about fellow PHers.
I thought I understood a little about economics, but after reading this:
http://en.wikipedia.org/wiki/Comparative_advantage
...I realised that I don't, and most of my knuckle-dragging ideas about economic function are based on outdated ideas about international competitiveness being based on absolute advantage.
My brain hurts.
If anyone can point me in the direction of some further reading which isn't some tinfoilhattish rant about central banking/fractional reserve conspiracies I'd be much appreciative.
I thought I understood a little about economics, but after reading this:
http://en.wikipedia.org/wiki/Comparative_advantage
...I realised that I don't, and most of my knuckle-dragging ideas about economic function are based on outdated ideas about international competitiveness being based on absolute advantage.
My brain hurts.
If anyone can point me in the direction of some further reading which isn't some tinfoilhattish rant about central banking/fractional reserve conspiracies I'd be much appreciative.
HundredthIdiot said:
A little poll to satisfy my curiosity about fellow PHers.
I thought I understood a little about economics, but after reading this:
http://en.wikipedia.org/wiki/Comparative_advantage
...I realised that I don't, and most of my knuckle-dragging ideas about economic function are based on outdated ideas about international competitiveness being based on absolute advantage.
My brain hurts.
If anyone can point me in the direction of some further reading which isn't some tinfoilhattish rant about central banking/fractional reserve conspiracies I'd be much appreciative.
Alan Sugar would tell you , it's about the bottom line.I thought I understood a little about economics, but after reading this:
http://en.wikipedia.org/wiki/Comparative_advantage
...I realised that I don't, and most of my knuckle-dragging ideas about economic function are based on outdated ideas about international competitiveness being based on absolute advantage.
My brain hurts.
If anyone can point me in the direction of some further reading which isn't some tinfoilhattish rant about central banking/fractional reserve conspiracies I'd be much appreciative.
Comparative Advantage would tell him, it's about when you begin and stop measuring 'the bottom line'
ShadownINja said:
Key negotiation skills not taught in business school:
http://www.youtube.com/watch?v=6PQ6335puOc
They dont teach you a lot in business school. In my experience initiative is frowned on. http://www.youtube.com/watch?v=6PQ6335puOc
Its no surprise all these Ivy league academics ran banks into the ground imo.
I thought this was when an average girl goes out for the evening with her fat friend.
ETA thought I'd better add something sensible
An economic moat is often used to describe a C A.
ie a company with a wide moat is said to have an excellent C A like a tinsmith who owns the only tin mine.
ETA thought I'd better add something sensible
An economic moat is often used to describe a C A.
ie a company with a wide moat is said to have an excellent C A like a tinsmith who owns the only tin mine.
Edited by jeff m on Saturday 4th December 06:33
Yep, it always comes to my mind when someone on PH spouts about how 'nuffink is made in the UK anymore .. blah blah' and we should return to the olde days of manufacturing widgets etc. - ironically the same people who moaned about call centres replacing old industries c. 10 years ago. So what's worse - working in a sweatshop or working a call centre?
thinfourth2 said:
Widgets are considerably brighter and better mannered then the great british public
That is certainly a way of looking of at it, but i wonder how many of the unemployed would prefer to be working in one at the moment, but instead it has been shipped out to India.One would expect that a UK employee would have a comparative advantage when dealing with the great british public, even after 14 years of Nu Education.
fido said:
thinfourth2 said:
Widgets are considerably brighter and better mannered then the great british public
That is certainly a way of looking of at it, but i wonder how many of the unemployed would prefer to be working in one at the moment, but instead it has been shipped out to India.One would expect that a UK employee would have a comparative advantage when dealing with the great british public, even after 14 years of Nu Education.
In media studies
thinfourth2 said:
fido said:
thinfourth2 said:
Widgets are considerably brighter and better mannered then the great british public
That is certainly a way of looking of at it, but i wonder how many of the unemployed would prefer to be working in one at the moment, but instead it has been shipped out to India.One would expect that a UK employee would have a comparative advantage when dealing with the great british public, even after 14 years of Nu Education.
In media studies
turbobloke said:
thinfourth2 said:
fido said:
thinfourth2 said:
Widgets are considerably brighter and better mannered then the great british public
That is certainly a way of looking of at it, but i wonder how many of the unemployed would prefer to be working in one at the moment, but instead it has been shipped out to India.One would expect that a UK employee would have a comparative advantage when dealing with the great british public, even after 14 years of Nu Education.
In media studies
Please
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