Michael Hudson on TRNN # 39; J is for the economy Junk # 39; January 5
Balance of payments of the Concise Encyclopedia of the economy's balance of payments accounts of a record of the country, payments and receipts from residents of the country in their transactions with residents of other countries if all transactions are included , payments and revenues of each country, and must be equal any apparent inequality simply leaves an asset purchase in other countries, for example, if Americans buy automobiles from Japan, and have no other transactions with Japan, the Japanese have to end up dollars, they can fit in the form of bank deposits in the United States or other US investment automotive Japan Americans payments are balanced by payments Japanese individuals and US institutions, including banks, to acquire dollar assets in other words, Japan sold auto United States, and the United States sold Japan dollars or dollar-denominated assets such as Treasury Bills and New York City office buildings.
Although the total payments and receipts are not necessarily equal, there will be excessive inequalities of payments or receipts, known or surpluses deficits in certain types of transactions Thus, there may be a deficit or surplus in the one of the trade of the following goods products, services trade, income of foreign investment, unilateral transfers of foreign aid, private investment, gold and money flows between central banks and Treasury bills, or any combination of these or other transactions imports AmosWEB economy Gloss Arama imports of goods and services produced by the sector abroad and purchased by the national economy of other words, imports of goods purchased from other countries, the United States, for example, buy a lot of things produced within the boundaries of other countries, including bananas, the e coffee, cars, chocolate, computers, and, well, many other products, imports and exports, are the essence of foreign trade products and services e are negotiated between citizens of different nations imports and exports are often combined into one term, net exports exports less imports exports economic AmosWEB Gloss Arama eXPORTS the sale of goods in a foreign country the example in the US sells a lot of things produced within our borders to other countries, including wheat, beef, cars, furniture, and, well, almost all varieties of products you care to name generally, domestic producers and their workers are elated at the prospect of selling their goods to foreign countries leading to more buyers, higher prices, and more profit more él price Eve, however, is bad for domestic consumers in that domestic consumers tend to have less political weight than the producers very little criticism of exports can be heard trade balance of the economy AmosWEB Gloss Arama balance trade the difference between the value of exported goods and services of a country and the value of goods and services imported into the country, the trade balance is the official term for net exports which makes the balance of payments trade balance can be a favorable excess exports exceed imports or imports exceed exports unfavorable deficit the official balance of trade is separated into the balance of merchandise trade for tangible goods and services balance.
A balance of trade surplus is more favorable to domestic producers responsible export However, this is also likely to be unfavorable to domestic consumers of exports that pay higher prices.
Alternatively, a balance of trade deficit is the worst domestic producers competing with imports, but it can also be favorable to domestic consumers of exports that pay lower prices.
popular myth Are not any bad exports aren t good trade deficit isn ta bad thing, the deficit very word sounds bad economic reality an excess of imports over exports simply sends invoices in dollars abroad while providing goods and real services in the country for immediate use If foreigners want to keep those dollars, when we get to put their products for immediate use for the benefit of our customers and creating new investments for our industries, we get a trade prohibiting many better still severely limits what you can accomplish.
Don Boudreaux on the economy of Buy Local Podcast EconTalk, April 16, 2007 Supporters of local purchasing argue that it is better to buy from the local hardware store owner and farmer nearby the stores chain supermarket or grocery headquartered town because the money of the purchase is more likely to stay in the local economy Don Boudreaux of George Mason University speaks with host Russ Roberts on EconTalk economy of this idea is it better to buy local than a seller based outside the city is it better to buy American than buying foreign products Does the question of money in this conversation, Boudreaux and Roberts pierce the veil of money to expose this trade, whether local, national or international, really does.
The Buy-Local Membership fallacy by Karen Selick November 3, 2008, an advertisement appears regularly in the newspaper in my community Belleville, Ontario, Canada sponsored by a group of local businesses It reads Buy local ownership Your money stays in the community think about it everyone wins.
The 100 Mile Suit example local purchase of Wired March 31, last 2007, educator and costume designer Kelly Cobb asked his students at Drexel University to trace the origin of their clothing When the task was impossible, she realized what distance we are what we wear.
It was then that Cobb came up with the idea to create a suit of clothes made entirely from materials prepared in a 100 mile radius of his home.
Don Boudreaux on Globalization and Trade Deficits Podcast EconTalk January 21, 2008 Don Boudreaux of George Mason University, talks about the ideas in his book, Globalization It discusses comparative advantage, the winners and losers of trade, trade deficits, and EconTalk the inequalities host Russ Roberts.
The trade balance of Fr. d ric Bastiat Chapter 6 Economic Fallacies, first published in 1845 in France there is still another conclusion from all this, that, according to the balance of trade theory, France has a ways to double its simple enough capital at any time, simply move its products through customs, and then throw them into the sea in this case, exports will be the amount of its capital; imports will be nonexistent or impossible and we will win everything the ocean has swallowed.
You are just joking, protectionists will say that we could not t possibly have been saying anything so absurd that you have, and, what is more, you act on these absurd ideas and impose them on your fellow citizens, at least as far as you can.
The truth is that we must reverse the principle of the trade balance and calculate the national benefit of foreign trade in terms of the excess of imports over exports This surplus, less expenses, is the real benefit.
Why not just buy US trade, or the wedding dress Jane Haldimand Marcet in John Hopkins Notions on Political Economy in 1831 One evening, when John returned from work, he found his daughter Patty exhibiting new silk dress to her mother it was a gift that her lover had given her for the wedding day approaches Patty's eyes, which had rarely beheld anything so beautiful, shone with joy as her mother admired; and his father gave him a big kiss, and said she would be as smart a bride as had been married in the village Ay, and he is a French silk, also mother exclaimed Patty Why, why replied his mother, I see no more merit in his being french; and I did not think, Patty, you were a silly girl to have all this nonsense in your head No, indeed, it is bad enough for the great lady of the people to make such a fuss about fine French finery so they can t wear a little English riband honest, I don not like your a little better to be French no dress; and I would have thought your husband, who is to be, you could have given an English silk instead.
Mercantilism of the Concise Encyclopedia of commercialism economy is economic nationalism in order to build a rich and powerful state Adam Smith coined the term mercantile system to describe the system of political economy that sought to enrich the country by limiting imports and encourage exports This system dominated Western economic thought and European policies from the sixteenth to the late eighteenth century, the goal of these policies was, supposedly, to achieve a favorable balance of trade that would bring gold and silver in the country unlike the agricultural system of the physiocrats, or laissez-faire nineteenth and early twentieth century, the mercantile system served the interests of merchants and producers such as the British East India Company, whose activities been protected and encouraged by state exports and imports Cyclopedia from pol science itique Lalor by imports means all goods brought into a country f rom other countries; by exports of all goods leaving the country for other countries trade balance Cyclopedia in political science trade trade balance Lalor, the term commonly used to express the difference between the value of exports from and imports in a country of the balance used to be considered favorable when the value of exports exceeded that of imports, and unfavorable when the value of imports exceeded that of exports and this was long believed in many countries to be the case, and end period during which they were congratulated each year by their finance ministers on the excess of exports over imports Cyclopedia system Mercantile Lalor political science trade balance theory and the consequences that drawn from it constitute what is called the system mercanti it, because the whole system tends to regard foreign trade as the most productive branch of the labor of a nation it is assumed that a nation can sell more than it buys, d a way of ruining neighboring countries by absorbing their precious metals by the largest possible export and import less can this false theory still prevails in the minds of the masses, and still serves in good standing for many administrations and governments; it forms the basis of economic ideas of all writers of the eighteenth century, which was not his to physiocrats school or that of Adam Smith; it is always used our days of statesmen, and by all those who, out of conviction or for financial reasons, to defend the ban, high tariffs and custom barriers.
trade balance and balance of payments High School Economy Topics Library of Economics and, balance, trade, payments.
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