Dr. Fujimoto in his presentation first explained that by focusing on the concept of design, the horizons of manufacturing perspectives broaden from the field of production to non-production functions, ...

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...

In the early 19th century David Ricardo formulated the principle of comparative advantage to explain mutual gains from trade among countries. He based it on a critical assumption: that capital did not ...

In textbook economics, trade is a win-win: Two countries trade freely based on comparative advantage and share the resulting gains, improving welfare in both countries. America’s trade with China is ...

Japanese exports in electronic parts and components dramatically fell in value after the Global Crisis and have not recovered until today. This column investigates why Japan lost this comparative ...