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Here's the article with the graph: http://www.telegraph.co.uk/finance/economics/8492078/How-the-Fed-triggered-the-Arab-Spring-uprisings-in-two-easy-graphs.html The main argument of the article is that the uprisings in the Middle East were caused in part by QE2. I could take or leave that point. My main concern is the first graph in the article,
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So as I understand it the United States used to be a production economy where we made stuff in factories and sold it to each other and rest of the world. Now we have a comparatively limited manufacturing base and much of our economy is based in the service sector. I don't really understand how a service economy is supposed to work. For an economy
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How would truly free trade effect American's wages? I've heard it claimed that American's 'real wages' might be as little as half of what they currently are, as they're being propped up by trade barriers. If we simply got rid of all trade barriers is it possible that American's wages would drop drastically as they had to