World Model · podcast knowledge graph

Russ Roberts on Smith, Ricardo, and Trade

2010-02-08 · 62 min · episode 197 · 17 entities

episode page audio

Asserted relationships

  • → appeared on EconTalk podcast
    0.63
    evidence rules-v4
    Russ Roberts on Smith, Ricardo, and Trade
  • → hosted by Russ Roberts person
    0.55
    evidence rules-v4
    Feed author/publisher: Russ Roberts
  • → hosted by Library of Economics and Liberty person
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    evidence rules-v4
    Feed author/publisher: Library of Economics and Liberty
  • → discusses Society & Culture concept
    0.40
    evidence rules-v4
    Feed category: Society & Culture
  • → discusses Science concept
    0.40
    evidence rules-v4
    Feed category: Science
  • → discusses Philosophy concept
    0.40
    evidence rules-v4
    Feed category: Philosophy
  • → discusses Education concept
    0.40
    evidence rules-v4
    Feed category: Education
  • → discusses Courses concept
    0.40
    evidence rules-v4
    Feed category: Courses
  • → discusses Social Sciences concept
    0.40
    evidence rules-v4
    Feed category: Social Sciences

Entities found in this episode

concepts 12

  • mentioned Society & Culture concept
    0.50
    evidence rules-v4
    Feed category: Society & Culture
  • mentioned Science concept
    0.50
    evidence rules-v4
    Feed category: Science
  • mentioned Philosophy concept
    0.50
    evidence rules-v4
    Feed category: Philosophy
  • mentioned Education concept
    0.50
    evidence rules-v4
    Feed category: Education
  • mentioned Courses concept
    0.50
    evidence rules-v4
    Feed category: Courses
  • mentioned Social Sciences concept
    0.50
    evidence rules-v4
    Feed category: Social Sciences
  • discusses Society & Culture concept
    0.40
    evidence rules-v4
    Feed category: Society & Culture
  • discusses Science concept
    0.40
    evidence rules-v4
    Feed category: Science
  • discusses Philosophy concept
    0.40
    evidence rules-v4
    Feed category: Philosophy
  • discusses Education concept
    0.40
    evidence rules-v4
    Feed category: Education
  • discusses Courses concept
    0.40
    evidence rules-v4
    Feed category: Courses
  • discusses Social Sciences concept
    0.40
    evidence rules-v4
    Feed category: Social Sciences

persons 4

podcasts 1

  • appeared on EconTalk podcast
    0.63
    evidence rules-v4
    Russ Roberts on Smith, Ricardo, and Trade
Episode description as stored
Russ Roberts, host of EconTalk, does a monologue this week on the economics of trade and specialization. Economists have focused on David Ricardo's idea of comparative advantage as the source of specialization and wealth creation from trade. Drawing on Adam Smith and the work of James Buchanan, Yong Yoon, and Paul Romer, Roberts argues that we've neglected the role of the size of the market in creating incentives for specialization and wealth creation via trade. Simply put, the more people we trade with, the greater the opportunity to specialize and innovate, even when people are identical. The Ricardian insight masks the power of market size in driving innovation and the transformation of our standard of living over the last few centuries in the developed world.