comparative
advantage---(econ)---Certain
geographical/cyberspace areas may do better at producing certain types of things
than others because of capital on board, available interest rates, climate,
culture, skills, firsthand knowledge, infrastructure, natural resources, etc.…These
“spatial” areas are endowed with potential inputs, in other words. As
transportation of information, physical things and workers disperse across borders,
and globalisation occurs, relatively cheaper labour forces may start getting
all the jobs. They may have so much work that they can’t even sleep at night,
while others can’t find a liveable wage…big waves here. And, it almost seems
like the real knowledge of what is going on now, and how to piece it together, and
how to fine-tune it, is concentrated within certain groups from certain areas. Meanwhile,
some large market share companies agree to keep their
mates from intermingling, at least according to legend.
Another definition comes to mind, which is relatively upbeat in comparison. It falls within the micro-econ spectrum:
Specialisation in things one is pretty good at and usually enjoys doing as compared to other things one is capable of. For example, one family member may really enjoy cooking and usually becomes pretty good at it over time through research and practise, gaining a great deal of special firsthand knowledge along the way. One mate is good at making things, and another is good on the computer. One is good at fixing up residential properties. Another mate is good at doing laundry, and once again, most likely enjoys it. The total amount of laundry done well, repairs done well, computer processing done well and good food prepared is much greater than if every family member had tried to do all things simultaneously.
Another definition comes to mind, which is relatively upbeat in comparison. It falls within the micro-econ spectrum:
Specialisation in things one is pretty good at and usually enjoys doing as compared to other things one is capable of. For example, one family member may really enjoy cooking and usually becomes pretty good at it over time through research and practise, gaining a great deal of special firsthand knowledge along the way. One mate is good at making things, and another is good on the computer. One is good at fixing up residential properties. Another mate is good at doing laundry, and once again, most likely enjoys it. The total amount of laundry done well, repairs done well, computer processing done well and good food prepared is much greater than if every family member had tried to do all things simultaneously.