Jim Balsillie

Well, comparative advantage, it was done by David Ricardo, Ricardian comparative advantage, that says you may produce cups better than me and even saucers better than me. But if I can produce saucers comparatively better than I produce cups relative to you, if we trade, we're both better off. So it's a principle of comparative advantage.

Well, comparative advantage, it was done by David Ricardo, Ricardian comparative advantage, that says you may produce cups better than me and even saucers better than me. But if I can produce saucers comparatively better than I produce cups relative to you, if we trade, we're both better off. So it's a principle of comparative advantage.

Well, comparative advantage, it was done by David Ricardo, Ricardian comparative advantage, that says you may produce cups better than me and even saucers better than me. But if I can produce saucers comparatively better than I produce cups relative to you, if we trade, we're both better off. So it's a principle of comparative advantage.

Okay, lay that out one more time because everyone needs to understand this. So if you make a cup for $2 and a saucer for $1, and I make a cup for $3 and a saucer for $2, and I'm going to mess up my logic here, I'm absolutely worse than... than you on both, but I'm comparatively better on cups, because I'm only 50% more expensive rather than 100% more expensive.

Okay, lay that out one more time because everyone needs to understand this. So if you make a cup for $2 and a saucer for $1, and I make a cup for $3 and a saucer for $2, and I'm going to mess up my logic here, I'm absolutely worse than... than you on both, but I'm comparatively better on cups, because I'm only 50% more expensive rather than 100% more expensive.

Okay, lay that out one more time because everyone needs to understand this. So if you make a cup for $2 and a saucer for $1, and I make a cup for $3 and a saucer for $2, and I'm going to mess up my logic here, I'm absolutely worse than... than you on both, but I'm comparatively better on cups, because I'm only 50% more expensive rather than 100% more expensive.

So if I ship you cups and you ship me saucers, That will rise the tide of everybody. So everybody has an incentive to trade on physical goods based on comparative advantage.

So if I ship you cups and you ship me saucers, That will rise the tide of everybody. So everybody has an incentive to trade on physical goods based on comparative advantage.

So if I ship you cups and you ship me saucers, That will rise the tide of everybody. So everybody has an incentive to trade on physical goods based on comparative advantage.

You trade on Riccardi and comparative advantage. Okay. That's a material-based core principle of liberalizing trade. Now, when you go to an ideas economy, which is based on a principle of restriction and monopoly, somebody wants to be the landlord and somebody has to be the tenant. And you can compete on absolute advantage or you can be the landlord 10 out of 10 times.

You trade on Riccardi and comparative advantage. Okay. That's a material-based core principle of liberalizing trade. Now, when you go to an ideas economy, which is based on a principle of restriction and monopoly, somebody wants to be the landlord and somebody has to be the tenant. And you can compete on absolute advantage or you can be the landlord 10 out of 10 times.

You trade on Riccardi and comparative advantage. Okay. That's a material-based core principle of liberalizing trade. Now, when you go to an ideas economy, which is based on a principle of restriction and monopoly, somebody wants to be the landlord and somebody has to be the tenant. And you can compete on absolute advantage or you can be the landlord 10 out of 10 times.

It's not a cooperative system anymore. It's a rival system. And what that means is if you're a big, strong guy, You get everything. You do what's called strategic behavior. And that's what we're experiencing right now. And the piece I wrote on We're All Economic Nationalists Now, I talk about the strategic behavior, Trump 1.0. Biden took all of those things and added many more.

It's not a cooperative system anymore. It's a rival system. And what that means is if you're a big, strong guy, You get everything. You do what's called strategic behavior. And that's what we're experiencing right now. And the piece I wrote on We're All Economic Nationalists Now, I talk about the strategic behavior, Trump 1.0. Biden took all of those things and added many more.

It's not a cooperative system anymore. It's a rival system. And what that means is if you're a big, strong guy, You get everything. You do what's called strategic behavior. And that's what we're experiencing right now. And the piece I wrote on We're All Economic Nationalists Now, I talk about the strategic behavior, Trump 1.0. Biden took all of those things and added many more.

which you can read it, and I won't go into them now, but he did many very substantial strategic elements of behavior. Trump first, then Biden. Biden did more than Trump. In relationship to Canada. Yeah, and then Trump took it to a whole other level very, very recently. And so it's an era of strategic behavior, which means it's not a cooperative-based system.

which you can read it, and I won't go into them now, but he did many very substantial strategic elements of behavior. Trump first, then Biden. Biden did more than Trump. In relationship to Canada. Yeah, and then Trump took it to a whole other level very, very recently. And so it's an era of strategic behavior, which means it's not a cooperative-based system.

which you can read it, and I won't go into them now, but he did many very substantial strategic elements of behavior. Trump first, then Biden. Biden did more than Trump. In relationship to Canada. Yeah, and then Trump took it to a whole other level very, very recently. And so it's an era of strategic behavior, which means it's not a cooperative-based system.

And Canada believed in the multilateral rules-based order. This is a shared global project. And my exhortation is this is an absolute advantage era that leads to strategic behavior. And if you don't focus on being reasonably sovereign, reasonably strong, you become the one they pick on.

And Canada believed in the multilateral rules-based order. This is a shared global project. And my exhortation is this is an absolute advantage era that leads to strategic behavior. And if you don't focus on being reasonably sovereign, reasonably strong, you become the one they pick on.