Ricardian

Explain why smaller trade friendly empires faced a human capital constraint, which eventually induced the creation of smaller states favoring specialized in production of high valued goods.

Clayton Duecker    Economic Growth in human history tends to go through phases where the Ricardian trap shifts between a natural resource constraint (fertile land, sufficient rainfall, critical mineral) or a human capital constraint (need more or better trained people). Humans routinely failed. Yet when humans did succeed in breaking any Ricardian limit (natural resource […]

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