The principle of comparative advantage was first formulated in the 18th century by

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The principle of comparative advantage was first formulated by David Ricardo in his book "On the Principles of Political Economy and Taxation" published in 1817. The principle explains that countries should specialize in producing goods that they have a lower opportunity cost in producing, and then trade with other countries to obtain the goods that they have a higher opportunity cost in producing. This leads to gains from trade for both countries.

The Principle of Comparative Advantage Was First Formulated in the 18th