Comment by harimau777
1 day ago
I'm not sure I understand your point. Someone who attempted to support themselves by hand knitting sweaters almost certainly WOULD be impoverished. So doesn't that support what you are calling "doomers"?
1 day ago
I'm not sure I understand your point. Someone who attempted to support themselves by hand knitting sweaters almost certainly WOULD be impoverished. So doesn't that support what you are calling "doomers"?
I said "but people don't do that because there are better alternatives".
I also said "with monograms" for example, i.e. there are irl handmade sweaters made today because people don't necessarily want a factory product.
I pointed it out because it illustrates a hint of the principles of "comparative advantage" which concepts are useful for analyzing more than international trade, analysis the majority of people aren't familiar with.
Comparative advantage falls flat on its face in the circumstances being described, though. It’s based on an assumption of opportunity cost that no longer holds true.
the principle of comparative advantage does not ever fall flat on it's face. An entire country can be worse at manufacturing/growing everything compared to the US, but they can still manufacture and grow things, and engage in trade.
an individual can be inferior to other individuals at every single job skill, but can still get a job and live a full life with family.
you don't know what you are talking about, at all.
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