Question for those who saw it- are these two classes totally divided without class mobility? Did they mention comparative advantage?
Quote:
In economics, comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another. Even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.
For example, if, using machinery, a worker in one country can produce both shoes and shirts at 6 per hour, and a worker in a country with less machinery can produce either 2 shoes or 4 shirts in an hour, each country can gain from trade because their internal trade-offs between shoes and shirts are different. The less-efficient country has a comparative advantage in shirts, so it finds it more efficient to produce shirts and trade them to the more-efficient country for shoes
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-I can't quantify my hatred of the State. Preferences are ordinal.
-The absolute ruler may be a Nero, but he is sometimes Titus or Marcus Aurelius; the people is often Nero, and never Marcus Aurelius.
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