Posts by Edward Franklin

David Ricardo's theory of comparative advantage is a cornerstone of international trade. It illuminates how even if one entity is more efficient at producing everything (absolute advantage), specialization in areas…

The topic of government subsidies is contentious. While subsidies can play a crucial role in supporting essential industries or promoting innovation, whether governments should subsidize already profitable companies raises serious…

We often hear about tax rates and percentages, but do we understand their real-world impact? Even when two people pay the same tax percentage, the effect on their lives can…