Archive for the ‘Trade/Foreign Policy’ Category

If we want to boost globalization and suppress insularity, we need to understand the mechanics of trade.

April 12th, 2017

Though I’m not sure exactly who “we” are, I think we are missing a rare opportunity to better understand the pressures, conflicts, costs, and benefits of international trade. And the stakes are high: continue to get this wrong and the globalization project will face increasing insular pressures. I yield to no one in my support for… Read more

Trade, Trade Deficits, Secular Stagnation, and a Good Use for Excess Savings

March 8th, 2017

Three recent articles caught my eye re international trade. First, there’s Neil Irwin reprising his theme, an important one, that the trade deficit isn’t a report card. Sometimes such imbalances are a problem, other times they’re not, so; as the balance of payments serenity prayer says: “Keynes, give us the wisdom to tell the difference.”… Read more