Ricardo and his theory, I like to understand it as, opening communicatioin channels always help, no matter how much stud you are. Now this statement though is generally correct may be wrong sometimes as pointed out by aunty. Though leaving those cases we would like to discuss Ricardo's theory in the field of education and knowledge. Humans take the place of the countries and knowledge is the good that is being traded.

So, lets take a simplistic case, there are two people Amrit and Tejesh. Lets assume aur two knowledge goods being traded are knowledge about music and knowledge about charcoal painting. Tejesh has an absolute advantage in both of these. But still Ricardo says we both should talk and that would be better for both of us. Why????

Why would this be better for Tejesh. He already knows more than me. How how how on earth can he benefit from me?

The only thing we left out was the assumption of full employment that would be the assumption of complete thought resources. Now if Tejesh talks to me and I back with him I have more thought resources and hence, we are both set to benefit from our talking.

But the theory fails as aunty said if Tejesh is teaching me a topic I have no Idea about.

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Amrit Singh Saini
Senior Undergraduate
Electrical Department
IIT Delhi
(+919911660765)