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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Moominoid who wrote (67937)	8/22/2005 10:38:38 AM
From: shades	Read Replies (2) of 74559

Yes the razor - yet look at all the market participants right here on SI that are seeing all these conspiracies everywhere - hehe. You are really obsessed with thinking things can't be done rather than looking for what is productive and can be done. You have it completely backwards, I know the MACHINE is far more productive on certain things - the proof is everywhere around you in so many aspects of life. I choose to let the pro and his comparative advantage handle my big money with his big research teams and big computing power and I spend my time where I have the comparative advantage in software. Isn't that one of the fundamentals of economics? internationalecon.com The theory of comparative advantage is perhaps the most important concept in international trade theory. It is also one of the most commonly misunderstood principles. There is a popular story told amongst economists that once when an economics skeptic asked Paul Samuelson (a Nobel laureate in economics) to provide a meaningful and non-trivial result from the economics discipline, Samuelson quickly responded with, "comparative advantage." The sources of the misunderstandings are easy to identify. First, the principle of comparative advantage is clearly counter-intuitive. Many results from the formal model are contrary to simple logic. Secondly, the theory is easy to confuse with another notion about advantageous trade, known in trade theory as the theory of absolute advantage. The logic behind absolute advantage is quite intuitive. This confusion between these two concepts leads many people to think that they understand comparative advantage when in fact, what they understand, is absolute advantage The machines, the people that add input on them, they are going to do amazing thing MOO - I am very optimistic about the future. The future is so bright, I gotta wear shades - hehe.

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