Everyday Economics - Boudreaux on Trade and Prosperity

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  1. How do so called currency manipulations effect trade balances and trade fairness?

    How do so called currency manipulations effect trade balances and trade fairness?

    21 votes
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    • Is “Buy Local” really mercantilism?

      The intension of the few non-scale or low-scale local producers/retailers is to sell at higher prices to many local consumers by promoting “buy local”. The consumer pays higher prices, in many cases, then what exists outside “local“. That is, if the consumer buys everywhere/anywhere the consumer then locates best price. The higher price paid by the consumer, in the “buy local” scenario, is then bestowed upon the few local producers.

      Further, “buy local” implicitly means import as little as possible.

      15 votes
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      • Please discuss the economic effects of one country "dumping" "free" subsidized product on another, due to over-production ie. US food aid

        Providing free food in emergency situations is very welcome of course, but what is the real effect on productivity, the economy, and on those who a producing the product locally? Is dumping food in the name of Aid a recipe for continued poverty?

        12 votes
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        • How should education change in changing economy?

          The old education system is based on the industrial revolution needs, to teach the masses the new technologies.
          Isn't it outrated and ineffective in this overly specialized world?
          I'mean we should learn what we interested or talented in, not the lexical database in the times of the www and google. ;)
          If we could follow our interest freely, we would be much more enthusiastic and more vertically immersed at our profession.

          11 votes
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          • What is economic growth and what leads to it?

            A video on a basic explanation of economic growth models (Solow, etc.) and what factors lead to growth. Dispel misconceptions about population growth being a bad thing (or immigration) by explaining how increased population can increase the production possibility frontier of an economy. Discuss production possibility frontiers (PPF) and how government policy can hamper the PPF thereby constraining growth.
            Perhaps this is two videos as well, one on growth modeling generally and one on PPF.

            10 votes
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            • How much more efficient are dense cities?

              How large are the gains from people living in dense cities? What are the costs to restricting density?

              10 votes
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              • How do we measure how "well off" we are, or people from different eras?

                In the introduction, you mentioned comparing wellness today to wellness in 1776 - could you expound on this progress? Also, making more modern comparisons to the 1950s and 1970s would be interesting.

                7 votes
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                • Will the world become better (if not, ideal) if economic inequality is no longer exist?

                  ...I start thinking perhaps we, the world, needs to 'keep' it there to some degrees. Similar question I have is will the rich feels better if no one in this world is poor

                  7 votes
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                  • Why do we bother with free trade agreements?

                    I heard it's in Country A's selfish interest to trade as freely with Country B as B will allow. If that's true then why is there so much negotiation surrounding free trade agreements?

                    7 votes
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                      1 comment  ·  Admin →
                    • 6 votes
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                      • 6 votes
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                        • The US has given up a great portion of wealth building jobs due to free trade. How does a country build wealth?

                          I think you must build or create something to build wealth. Cuting hair or cleaning clothes does not build wealth, it absorbs it. How can we build wealth with service jobs?

                          6 votes
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                          • How do "price gouging" laws during a disaster harm people and their property with examples?

                            I believe much harm has been done by "price gouging" laws during disasters. Too much emphasis is often place on a top down command systems for solving problems. A better understanding of markets would help solve the problems of most people in a disaster by rationing and moving products better.

                            6 votes
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                            • 6 votes
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                              • Why does a trade deficit with, say, China, not matter if they use their $ to buy T-bonds?

                                We buy real stuff from China, they get dollars in return. They can keep the dollars, use the dollars to buy real stuff from us, or use the dollars to buy assets from us--say T-bonds. Then we use the dollars from the sale of T-bonds to buy Navy ships and Air Force satellites to keep a closer eye on China. Shouldn't we be thanking China for helping us keep a closer eye on them?

                                6 votes
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                                • 6 votes
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                                  • GrExit: What Happened In Greece?

                                    What happened in Greece? What should happen to fix it?

                                    5 votes
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                                    • Isn't this modern economy dependant on cheap energy such as fossil fuels? If so, what happens when we run out? Do we go back to the dark age

                                      Isn't this modern economy dependent on cheap energy such as fossil fuels? If so, what happens when we run out? Do we go back to the dark ages?

                                      5 votes
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                                        1 comment  ·  Admin →
                                      • Comparative advantage at what timescale, and under what assumptions?

                                        The case for trade with partners with different comparative advantages is compelling enough that supporters treat the idea as axiomatic. However, the developmental history of the world suggests that it's not always so simple -- instead of Saudi Arabia trading petroleum, a good for which they have enormous comparative advantage with most of the world, perhaps they should take a short-term hit and work on developing other skills and capacities, with the idea that, in the future, a broader range of expertise will be more advantageous to them than the petroleum monoculture?

                                        Put another way, it's possible that there are…

                                        5 votes
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                                        • In modern world, comparative advantage boils down to price (labor cost). Isn't this "killing" the high cost labor?

                                          The video put two equally paid workers and their productivity in a barter situation. In true life, we pay with cash. he situation is much different - globalized and searching for low labor cost. This is practically moving wealth from one worker to a lower paid worker and eliminating the high cost of labor. Isn't it?

                                          4 votes
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                                          Everyday Economics - Boudreaux on Trade and Prosperity

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