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14 November 2006



I found the essay to be a good simplistic example of demonstrating the comparitive advantage concept. It sounds a lot like the hedgehog concept I am currently reading about in Jim Collins book, "Good to Great". I admit though that I find myself getting bogged down with how to determine my comparitive advantage much less my employees/departments.


Some economists prefer the term "comparative costs." In, say, the case of team trying to decide who should do a particular task, we should be comparing each person's opportunity cost to do that task. The one who has to give up the LEAST to go to the task is the right choice.


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