comparative advantage
Each country will increase its overall wealth by exporting the good for which it has a comparative advantage.
In its final death throes the car industry shamelessly put its hands out for $3 billion dollars to save 50,000 skilled and semi-skilled jobs across Holden, Ford and Toyota but the PM at the time, Tony Abbott, had heard it all before.
Abbotts’s emphatic ‘no’ marked an end to billions of dollars in taxpayer handouts and billions more in high tariffs
