TheBlack_knight

3 ms·

1.
by TheBlack_knight 16y ago
Those look good just glancing over them. To move beyond simple comparative advantage (if you're interested) I would recommend looking into the Heckscher-Ohlin theorem as well. It expands upon comparative advantage adding another level of co
2.
by TheBlack_knight 16y ago
Economic expansion is not a zero sum game. If China and India are training future engineers and scientist then great for them. We can hope to learn from them in the future and use there ideas in our own way. The article says something to th
3.
by TheBlack_knight 16y ago
That's a relavent point. High marginal tax rates would create the incentive for people in the higher taxed brakets to seek non-pecuniary benefits. Things like company cars and free jets. This would suggets we have an incomplete picture for
4.
by TheBlack_knight 16y ago
The workers who designed and built the machines are skilled. Inefficient jobs are replaced with with new jobs not necessarily in the same industry.
5.
by TheBlack_knight 16y ago
Manufacturing is not necessarily low skilled. Look to Germany for example, which is a heavy manufacture that uses very advanced factories, some even completely automated. I have no problem having China make goods for us. Manufacturing is us
6.
by TheBlack_knight 16y ago
The problem is not a BOP deficit, the problem is how we are financing the import of cheap goods from China, and that is in fact cheap money from China. We are currently caught in a sort of circular flow of cheap trade with China and even ch
7.
by TheBlack_knight 16y ago
I think you missed the second page of pics.
8.
by TheBlack_knight 16y ago
I resist the comparisons between accent Rome and our current culture, but sometimes the insights are intuitive. … Already long ago, from when we sold our vote to no man, the People have abdicated our duties; for the People who once upon a t