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June 18, 2004

Insights from Cereal « Politics As Usual »

This guy really understands economics and wealth.

Excerpt:

...I realised that what this actually means is that the U.S. economy produces so much wealth, is such a great engine of wealth creation, that we can have that much money come back from China as merchandise rather than reciprocal trade, to the benefit (on average; the greater good for the greater number) of the American consumer. It is not that different from saying that I am not suffering from a trade deficit of $4000 a year at the grocery if I can afford to buy the food I prefer for my household.

And this guy gets it, too.

Posted by Nathan at 06:18 AM | Comments (1)
Comments

Thank ye, thank ye kindly.

I think it is relevant to point out that I reached my economic understanding on my own, from paying attention as I existed in the economy.

My parents were Marxists, but it never occurred to them to actively instill it in me. Instead I read Dale Carnagie, Buckminster Fuller, and Robert Heinlein. Once I got out into the world, and saw where my income came from, and where car wash brushes and aftershave and hash pipes came from, and how tableclothes changed value as they changed hands, things began to fall into place.

Posted by: triticale at June 20, 2004 08:01 PM
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