Titlebook: Dollars Deficits & Trade; James A. Dorn,William A. Niskanen Book 1989 Springer Science+Business Media New York 1989 economic policy.econom

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https://doi.org/10.1007/978-3-030-97393-3This paper addresses several fundamental issues raised by recent developments in the world economy and considers their implications for the design and functioning of the international monetary system. We do not make any proposals. Our purpose instead is to identify factors that merit attention in any serious examination of the system.

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Dollars and Deficits: Substituting False for Real ProblemsToday, people are bewitched, bothered, and bewildered by talk about the twin deficits. However, concentration on the budget deficit and the trade deficit diverts attention from more serious problems: The growth in government spending and the rise of protectionism in international trade.

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Do Trade Deficits Matter?Some things matter whether or not they exist. The Loch Ness monster is one. National trade deficits are another. Trade deficits obviously matter to many people, because (whatever they are) they seem to have significant consequences. They cause problems or create undesirable constraints or compel government policy changes.

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Overview: 978-94-017-1290-3978-94-017-1288-0