Forbes contributors publish independent expert analyses and insights. Sarah Williamson covers capital markets and long-term strategies. In a competitive marketplace, businesses need to know their ...

David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

Pawan Jain does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their ...