What are some of the causes for a loss of jobs in the U.S.?
Here the economic theory of comparative advantage applies as now jobs are shifting to Countries where the labour is more efficient and cheap from US. Comparative advantage is one of very important trade theory which states that countries will specialize in producing those products, which they are comparatively better at making relative to other products and other countries. Thus it leads to specialization and economies of scale. It is important ...
This discusses the causes for a loss of jobs in the U.S.