comparative advantage, n.All

Comparative advantage (n.) assumed ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠mobile labor and immobile capital; now the reverse is true, so capital chases the cheapest workforce and drags every wage down.

Comparative advantage (n.) can ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠be tested by history: compare Portugal, which grew wine, with England, which industrialized, a century on.