Comparative advantages boost economic performance - Deepstash
Comparative advantages boost economic performance

Comparative advantages boost economic performance

One way to think about productivity is by considering how having people specialize in specific fields is integral to productivity.

For example, imagine a society where everyone does everything themselves. This would be really inefficient and people would not have as much leisure time. However, if people specialize in what they are good at, and then trade goods with each other, they will be much more productive and have more leisure time.

42

419 reads

CURATED FROM

IDEAS CURATED BY

weeklyconcepts

Management concepts explained like tweets.

Peter Schiff wrote a book about the economic crashes that have happened throughout history. He talks about how inflation, deficit spending, and central banking can all be driving factors.

The idea is part of this collection:

The Psychology of Money

Learn more about economics with this collection

How to develop a healthy relationship with money

How to create a budget

The impact of emotions on financial decisions

Related collections

Similar ideas to Comparative advantages boost economic performance

Using free time

Since the WHO declared the new virus a pandemic and officials have urged people to stay home as much as possible, many Americans have suddenly found themselves with more free time and limited ways to spend it.

If you want to use this time to be productive, you have many historical role mod...

Types of people

Types of people

Category 1: Losers

People who always see negative in everything and put in the least amount of effort or no effort at all. They are least bothered about what is happening around them. They will only crib and complain about how the world is. They will say someth...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates