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NZ has had a quasi-monopoly on low-quality lamb and mutton in the EU since this was negotiated as part of the UK entry package in 1973.

!!!

there are in fact national and regional tastes to be considered, (comparative advantage doesn't appear to take that into account)

Yes, comparative advantage only works for perfectly substitutable products.

What you're describing is monopolictic competicion where producers specialise in slightly different products and either take advantage of consumer preferences or hope for them to develop.

Can the last politician to go out the revolving door please turn the lights off?

by Migeru (migeru at eurotrib dot com) on Mon Jun 4th, 2007 at 07:56:20 AM EST
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Interesting stuff, afew.

McMutton, anyone?


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sapere aude

by Number 6 on Mon Jun 4th, 2007 at 08:43:36 AM EST
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