1977: Great Year…
Year 1977 was actually a real good year, and not just because I was born by mid-year. It was a good year for Mr Ohlin, who shared the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” (aka Nobel in Economics) in 1977.
His contribution to the understanding of the international trade and the specialisation of countries on sectors, resource allocation, relative prices, and how income is distributed by international-trade participant countries, made him earn this loved prize.
Let me think a little and we’ll re-do the model a little bit; let me think of people as countries, the relationships as goods interchanges (international trade), and the abilities, intellect, etc, as resources… What’s the relative price of a fake compliment?, who’s specialised in patronising?, what about the gains of it?; or, what’s the relative price of advising someone?, who’s specialised in advising on career?, what are the gains again?; and so on.
