Dollars and Jens
Saturday, December 17, 2005
balance of trade
A paper suggests that the large U.S. current account deficit is largely an artifact of poor accounting. The argument is approximately that the fact that U.S. investors in foreign countries continue to earn a larger amount on those investments than foreign investors in the U.S. earn on theirs constitutes evidence that the U.S. is exporting intellectual and other intangible property to generate those returns.

I'm not just yet drinking from the same punch bowl as these two, but it's an interesting idea.

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