European Tribune - Comments - The Anglo Disease - Financiers worried about end of great bull run

The Anglo Disease - Financiers worried about end of great bull run | 42 comments (42 topical, editorial, 0 hidden)

As I understand it, we're never supposed to pick comparative advantages that are as potentially unsustainable as some of the financial instruments Mig has referred us to... it's not something the theory seems to consider, but then, IANAE either...

by Metatone (metatone [a|t] gmail (dot) com) on Tue Jun 19th, 2007 at 12:57:39 AM EST
[ Parent ]

Re: Anglo Disease (none / 0)

Since, as not-economists (ie dummies), the kind of analogies we are offered by way of explanation of comparative advantage generally concern Bob and Alice who grow tomatoes and lettuces, or some such agricultural object lesson, it's interesting to note that the theory never takes into account that it might be a more sustainable practise to rotate the cultures of tomatoes and lettuces rather than specialise.

This takes on real-world proportions when applied to rain-forest clearance for monocultures. Yet we're still being told, in the name of comparative advantage, that the Doha Round is the way to go.

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Jun 19th, 2007 at 09:34:02 AM EST
[ Parent ]

Tomatoes (none / 0)

My own ricardo gardening version has specialisation risk mentionned and then discussed in the comments :)

http://guerby.org/blog/index.php/2006/04/23/65-salades-et-tomates

by Laurent GUERBY on Tue Jun 19th, 2007 at 03:39:16 PM EST
[ Parent ]

The Anglo Disease - Financiers worried about end of great bull run | 42 comments (42 topical, 0 editorial, 0 hidden)

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