@levie@JTLonsdale The US needs to focus its resources on higher-value manufacturing (aerospace, specialized equipment, etc.), advanced services, technology development/innovation - areas where it has a comparative advantage due to its educated workforce, research capabilities, and capital markets.
@levie@JTLonsdale Agreed, comparative advantage doesn't mean a country should produce everything it can make most efficiently in absolute terms. Countries should focus on producing goods where they have the lowest opportunity cost relative to other production choices…
The US needs to focus its resources on higher-value manufacturing (aerospace, specialized equipment, etc.), advanced services, technology development/innovation - areas where it has a comparative advantage due to its educated workforce, research capabilities, and capital markets.
Comparative advantage doesn't mean a country should produce everything it can make most efficiently in absolute terms. Countries should focus on producing goods where they have the lowest opportunity cost relative to other production choices…