The concept was mentioned again by James Mill in “Elements of political Economy”. Finally the theory of comparative advantage was treated as a vital point of international economy with the publication of the book “Principles of political economy”. Although a core concept of international economy comparative advantage is often misunderstood with a similar theory, absolute advantage...
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Although a core concept of international economy comparative advantage is often misunderstood with a similar theory, absolute advantage. This is because both concepts refer to the efficiency of a producer in terms of another. Lastly, because comparative advantage is represented very well through numerical values, it is very easy for someone to understand the mathematical form of it without actually realizing its use in the economy...
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