Trade Surpluses and Deficits Any country’s trade balance is the difference between the totals of its exports and imports respectively, as measured in its own currency. To the extent that its exports exceed its imports, [more…]
Every primer on economics cites the familiar factors of production, land, labour and capital, as prerequisites for productive activity. Sometimes entrepreneurship is added to represent the gifted brain who brings the other three together in [more…]
Perhaps the most destructive premise of modern, mainstream economics is that a central bank-induced monetary/credit expansion can cause an economy to grow without adverse consequences. Let’s be perfectly clear from the start…this policy has been [more…]
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