- Cafe Hayek - http://cafehayek.com -
Specialization and Trade
Posted By Don Boudreaux On July 27, 2011 @ 2:08 pm In Adam Smith,Growth,Innovation,Myths and Fallacies,The Economy,Trade | Comments Disabled
Here’s the PowerPoint presentation  that I used for my second lecture at the 2011 Cato University (held this year, btw, in one of my favorite towns: Annapolis, MD).
Because of several questions that I received after my first lecture, I began this second lecture with a brief review of the state of manufacturing in America. I used several of the great graphs that Mark Perry made available over the past few years at Carpe Diem . Of course, in my verbal remarks I explicitly acknowledged that these graphs are from Carpe Diem – and I encouraged the attendees to check out that indispensable blog.
Then I reviewed, first, Adam Smith’s explanation of the benefits of specialization, and, second, David Ricardo’s explanation (the principle of comparative advantage). I also combined Smith with Ricardo.
I concluded – after some too-quick remarks on various theories of the industrial revolution – by encouraging the attendees to read Deirdre McCloskey’s Bourgeois Dignity .
Article printed from Cafe Hayek: http://cafehayek.com
URL to article: http://cafehayek.com/2011/07/specialization-and-trade.html
URLs in this post:
 Here’s the PowerPoint presentation: http://cafehayek.com/site/wp-content/uploads/2011/07/Heres-the-PowerPoint-presentation.ppt
 Carpe Diem: http://mjperry.blogspot.com/
 Bourgeois Dignity: http://www.amazon.com/Bourgeois-Dignity-Economics-Explain-Modern/dp/0226556654/ref=sr_1_1?s=books&ie=UTF8&qid=1308689749&sr=1-1
 Image: http://www.blinklist.com/index.php?Action=Blink/addblink.php&Url=http%3A%2F%2Fcafehayek.com%2F2011%2F07%2Fspecialization-and-trade.html&Title=Specialization%20and%20Trade
 Tweet: https://twitter.com/share
Copyright © 2011 CafeHayek.com. All rights reserved.