Thursday, September 3, 2009

Reaction toward David Recardo

Ear infection is the cause of death, What! It’s amazing! Well perhaps during that time, there wasn’t such room for doctors. Kidding aside, I’m not influence with his economist. I don’t know. Perhaps of the reporters who did not allocate well. As part of my duty of being a student. I found out that his contributions the Ricardian equal, labor theory of value, comparative advantage, Law of diminishing returns.
What was absorbed by my memory is the explanation of Mrs.Vistal bout the comparative advantages. It state that if the country is more efficient in producing a certain product then another country. It would be better if you specialize that product which you consumed a shorter time but you can produce efficiently. Yah Right! Good for the Philippines are abundant in natural resources that cater in producing agricultural products, plus the factor of our climate is an asset to us to specialize in agriculture. Why don’t we focus this agricultural rather than industrialization which needs lots deeper method just to produce a product? Let’s focus on what our assets and then export it. Let import our needs, that’s it.




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