Subscribe Thank Goodness for Trade Deficits
posted in political by jon on 2004-12-06
Excellent primer on why trade deficits are a good thing. notable quote:TCS: Tech Central Station - Thank Goodness for Trade DeficitsThe Cato Institute's David Boaz explained the above concept best in his 1997 book, Libertarianism: A Primer. Boaz noted that he ran up trade deficits with his grocer, dentist, and department store, all of which bought nothing from him. On the other hand, Boaz had a trade surplus with his employer, along with the publisher of his book. His point was that all trade must in the end balance, that we produce in order to consume, and that buyers of goods and services must have produced something of value in order to be buyers.
