Until the early 19^th century, many economists believed that international trade was a zero sum game. What is a zero sum game?

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In a zero sum game, one country can only gain if another country loses, meaning there is a fixed amount of resources or wealth that is being divided among the players. This belief was held by many economists until the early 20th century. It has since been disproven by the concept of comparative advantage, which states that countries can benefit from trading with each other even if one country may have an absolute advantage in producing all goods.

Until the Early 19th Century, Many Economists Believed That International

Until the Early 19^th Century, Many Economists Believed That International