did you know Malthus was a classical economist?

According to David Ricardo, even if a country could produce everything more efficiently than another country, it would reap gains from specializing in what it was best at producing and trading with other nations. Ricardo believed that wages should be left to free competition, so there should be no restrictions on the importation of agricultural products from abroad.

The benefits of comparative advantage are both distributional and related to improved real income. Within Ricardo's theory, distributional effects implied that foreign trade could not directly affect profits, because profits change only in response to the level of wages. The effects on income are always beneficial because foreign trade does not affect value.

Comparative advantage forms the basis of modern trade theory, reformulated as the Heckscher-Ohlin theorem, which states that a country has a comparative advantage in the production of a product if the country is relatively well-endowed with inputs that are used intensively in producing the product.

Memorise this for a powerful intro for CA and IT essays shuqun plzkthnxbye.








Don't you wish you were born 200 years earlier? Then, any public declaration that you make that uses a bit of common sense will be inducted into the "Famous quotes" hall of fame where your future, future descendants will have to learn.

Leonardo Fibonacci came up with this sequence. 1,1,2,3,5,8,13,21. The famous Fibonacci sequence where each number is made up of the sum of the 2 preceding numbers. Gosh, why didn't I think of it?!

28,19,12,4,-2,-10,-56.

SQ's famous sequence. Find out the pattern from 1 number to the next and I will treat you your yearly supply of bubble tea for your next 10 years.

EDIT: Hahaha was talking to G just now.

G: So, you're pretty fat and ugly, how do you feel about that.
Me: I am reading geog now, avoid discouraging me now plzkthnx.
G: Truth wad. I mean, what's so good about being a fatty like you?
Me: Hm.. Fat kids are harder to kidnap. You see, when people like David Lam tries to kidnap me, it takes at least 4 of him to carry me and 1 to open the van door and another 3 to push me into the van forcefully. And I eat about 3 bowls of rice per meal so I will probably make the kidnappers bankrupt and they would release me even before my parents try to pay the ransom.
G: ROFL.

Fat is the new trend.