Just look at the two top countries, the US and China. If you wanted to have the technological wizardy of the i-Pad in the marketplace for a "reasonable" price, and you had to divide up the labor to produce it, which combination of jobs would you want available for US workers? You certainly don't trade an engineering job for a production job. That would not make sense. How about a retail job for a production job? Well, can't do that either, because the retail market is in the US. If we moved ALL(or some) those production jobs to the US, would the i-Pad be a better product? A more expensive product? LESS expensive? OR is everything basically in balance to bring you the magic that is the i-Pad...Perhaps Comparative Advantage works?
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| Source: The Conversable Economist |
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