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I am trying to understand how inflation contributes to trade defecits and the negative impacts inflation has on trade, who it hurts, and who benefits (especially when looking at US China relations). I have been reading this article: http://mises.org/daily/4256 But I am still very confused. How does inflation...
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Austrians do a great job of explaining economics but they don't use the same terminology as mainstream so I still get confused when reading the newspaper. "Setting a higher interest rate than other major central banks will tend to attract in funds via the nations capital account, and this will...
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What would be the consequences for the world economy if (a) capital was fully mobile but labor was not? (b) both capital and labor could travel to each other freely? I mean, the standard of living of Americans is high, because Americans are comparatively much more productive than the Chinese or Africans...
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When politicians propose that we need to a have a trade surplus, what do they do to achieve this? Isn't it private firms that engage in international trade?