4 ms·
OP mentioned a country, so not just the US, that is why I asked. Edit: Alright, by reading the link, what Friedman means, I think, is that a country still need
by owebmaster 2y ago
OP mentioned a country, so not just the US, that is why I asked.
Edit: Alright, by reading the link, what Friedman means, I think, is that a country still need to export more than import, but should export just the minimum enough to pay for the imports. In volume (so I'd guess manufactured products not commodities).
- cjbgkagh 2y agoThere is another side of the ledger e.g. currency so the question is then how does a currency remain valuable when more has to be produced to keep buying things, as opposed to selling things. US has been running a trade deficit for only the past 60 years, since the Nixon shock which is probably very related. While on paper the US is per capita wealthier today I think that’s more to do with ponzi economics.
- owebmaster 2y ago> While on paper the US is per capita wealthier today I think that’s more to do with ponzi economics. It is still the most developed economy but with a healthcare and education expense bigger than any other country while the citizens still need to pay a fortune for it.