Tuesday, August 9, 2011

Is it good for Obama - or any politician -- to base US job creation on greater US exports?

Export-orientation and competition with other countries is necessary in order to balance the terms of trade. It isn't possible to keep all resources inside the U.S. while you continue to buy things from foreign industries. This would only continuously relocate your resources into foreign countries and you would not recollect them because the export to the surrounding regions wouldn't be even with the import you receive.

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