> I, shoeless but with ten loaves of bread, and you, hungry but with ten pairs of shoes
Even if I and you were equally skilled at making both bread and shoes, by economies of scale we can produce more bread and shoes if we specialize. Thereby, the use of trading makes us both better off.
The invention of trade, and inventions that facilitate trade (money, banking, stock markets, contracts, property rights), have greatly benefited humanity.
Even if I and you were equally skilled at making both bread and shoes, by economies of scale we can produce more bread and shoes if we specialize. Thereby, the use of trading makes us both better off.
The invention of trade, and inventions that facilitate trade (money, banking, stock markets, contracts, property rights), have greatly benefited humanity.