00:01
So the correct answer here is a, right? a comparative advantage.
00:06
This is not due to smith.
00:08
Comparative advantage comes from a later work building on smith by david ricardo in his 1817 principles of political economy and taxation, not in adam smith.
00:21
This is simply something that you'd have to read the book to know.
00:25
But ricardo is sort of famous for being the father, the creator of comparative advantage.
00:31
The rest are absolutely true, right? free trade happens.
00:38
Oh, sorry, free trade, right? adam smith talks about how you should buy from countries who can provide it from, who can provide goods more cheaply to you, right? consistent with his belief in the market.
00:53
If, you know, it's expensive to produce something in britain and cheap to produce it somewhere else, buy it somewhere else...