Absolutely agree. It's ridiculous that low wage labor is considered a "comparative advantage". It's an advantage to capital owners perhaps, but certainly not to workers. And like you said, advantages are not static.
In my opinion it's intrinsically valuable to have a diverse regional economy. Culture and economy are fundamentally inseparable, imagine a society where everyone is doing the same thing because of "comparative advantage" making them 10% more efficient than the other country... What poverty!
In my opinion it's intrinsically valuable to have a diverse regional economy. Culture and economy are fundamentally inseparable, imagine a society where everyone is doing the same thing because of "comparative advantage" making them 10% more efficient than the other country... What poverty!