Category Archives: trade

Who pays for Uncle Sam’s deficits?

[Expanded May 27. 2018] I have reviewed this subject a lot, but some people, unfortunately, still don’t get it. Econ 101: Trade deficits On May 18, (last week) the U.S. public debt was 21.1 trillion dollars or 109% of our total … Continue reading

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Review of John Tamny’s attack on Jack Kemp Foundation article

By Dr. Warren Coats Dr. Coats is retired from the International Monetary Fund, where he was Assistant Director of the Monetary and Capital Markets Department. In an article titled, “When the Ideas of Thinkers and Great Statesmen Are Perverted,” John Tamny … Continue reading

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Econ 101: Trade Deficits, another Bite

Some years ago my friend Moritz Schularick and I were walking down a street in what is now called midtown Berlin (the former Eastern zone). Moritz asked me if I could explain why capital was flowing into the U.S. from … Continue reading

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Econ 101: Trade deficits

Responding to critics of the administration’s proposed steel and aluminum tariffs, Commerce Secretary Wilbur Ross stated on CNBC: “I think this is scare tactics by the people who want the status quo, the people who have given away jobs in … Continue reading

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The shriveling of U.S. influence

Today in Chile 11 of the original 12 countries that had signed the Trans-Pacific Partnership (TPP) multilateral trade agreement on February 4, 2016 are signing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP or TPP-11 for short, i.e., the … Continue reading

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Econ 101—Trade in very simple terms

Trade allows people and firms to specialize in what they produce. This enables them to be more productive. This raises the income (standard of living) of both the seller and the buyer (who must also sell something in order to … Continue reading

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Econ 101: What is a strong dollar?

Should the United States seek a strong dollar or a weak dollar? The answer to the previous question appears obvious but what exactly does a strong or weak dollar mean? As I write this the exchange rate of the dollar … Continue reading

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