Don’t fear the trade deficit — embrace it

posted by
October 16, 2011
by Daniel Rivera Greenwood  
Posted in Commentary

"These stories leave out an important element: The value of imports. In an open market system, where countries are able and willing to trade with one another, imports play an important role in providing choices and in the development of new and better products.  They also contribute to the specialization of the domestic labor force, which ultimately increases welfare and output." (10/14/11)  

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