Can’t we simplify and say that the point of trade is to alter the entire system so that the final state is of higher utility to both participants than the initial state?
You have 2 apples and I have 2 oranges, but we both prefer the state where we have 1 of each fruit.
We both work 1 hour in the mines and 1 hour on the fields, but we both prefer the state where the skillsets of individuals overlap less.
At the end of your list the point of trade still exists, it’s just the list of viable trades has been reduced.
Can’t we simplify and say that the point of trade is to alter the entire system so that the final state is of higher utility to both participants than the initial state?
You have 2 apples and I have 2 oranges, but we both prefer the state where we have 1 of each fruit.
We both work 1 hour in the mines and 1 hour on the fields, but we both prefer the state where the skillsets of individuals overlap less.
At the end of your list the point of trade still exists, it’s just the list of viable trades has been reduced.