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Babe Ruth And The Principle Of Comparative Advantage

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A. Case Study # 1: Trade Conflicts (9 points)
Please read and summarize “Is the United States Losing its Innovation Edge?” from Chapter 1.
The United States has been the engine of almost all the significant technological advancements since the mid of 19th century. This was because the industries ranging from smartphones to solar panel technology etc. were located in the country. However, the past decade has witnessed the erosion of a number of industries from the face of the nation (Huang, 2013).
According to some economists, manufacturing is the key to research and development (R&D). R&D brings innovation which is an ultimate driver of economic growth. However, the manufacturing blocks of science & technology are not being sustained in the country. In …show more content…

(2013). Why did The Economist favour free trade? Retrieved from economist.com: https://www.economist.com/blogs/freeexchange/2013/09/economic-history

C. Case Study # 3: Trade Conflicts (9 points)
Please read and summarize “Babe Ruth and the Principle of Comparative Advantage” from Chapter 2.
George Herman Ruth was one of the most prominent batters and pitchers in the history of baseball. In 1914, he started his league career as a left-handed pitcher with the Boston Red Sox. However, in December 1920, he was sold to the New York Yankees where he gained five wins for the team and ended his career as a pitcher.
Although Ruth had an absolute advantage as a hitter and pitcher, he chose to be a hitter. That was because he had the comparative advantage in hitting as he wanted to ensure his presence in the game on a daily basis. Thus, he decided to master in batting and gave up pitching.
The specialization of Ruth in batting made the Yankees one of the best teams in the history of baseball. Yankee Stadium was also nicknamed “The House that Ruth Built” because of Ruth's considerable number of fans. Thus, the use of comparative advantage by Ruth gave him massive success and fame in the history of

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