Economics 101
http://www.ft.com/intl/cms/s/0/b80696d8-16f3-11e4-8617-00144feabdc0.html#axzz38sGIAbeN
The UK explains away their trade deficit by pointing out that the deficit is largely offset by income from foreign assets.
Some one of these days, economists will announce, as if it is a new discovery, that the income from foreign assets is in fact income lost to domestic enterprise and the domestic labor force. Yes the trade deficit is indeed a big deal -- a white elephant in the room that liberal economists pretend not to see or explain away.
The UK explains away their trade deficit by pointing out that the deficit is largely offset by income from foreign assets.
Some one of these days, economists will announce, as if it is a new discovery, that the income from foreign assets is in fact income lost to domestic enterprise and the domestic labor force. Yes the trade deficit is indeed a big deal -- a white elephant in the room that liberal economists pretend not to see or explain away.
posted by Clancy Hughes | 7/29/2014 08:32:00 AM
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