All Posts Tagged With: "current account"
The Trade Deficit Is Debt? It Just Ain’t So!
Writing in the October 4 New York Times, Nobel laureate economist Joseph Stiglitz worries about “global imbalances.” Stiglitz’s concerns are revealed in his opening paragraph: “The International Monetary Fund meeting in Singapore last month came at a time of increasing worry about the sustainability of global financial imbalances: For how long can the global economy [...]
1Dec2006 | Donald J. Boudreaux | 1 comment | ContinuedA Deficit of Understanding
“Nothing, however, can be more absurd than this whole doctrine of the balance of trade.” —Adam Smith The Wealth of Nations Here’s some sound advice: don’t worry about the trade deficit. The pundits’ and politicians’ hysteria over the trade deficit is rooted in confusion. The fact is, a trade deficit is unlikely to be a [...]
1Apr2004 | Donald J. Boudreaux | 5 comments | Continued-
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