{"id":23845,"date":"2017-01-30T16:22:56","date_gmt":"2017-01-30T21:22:56","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=23845"},"modified":"2017-01-30T16:22:56","modified_gmt":"2017-01-30T21:22:56","slug":"real-terms-of-trade-imports-are-good-and-exports-are-bad","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2017\/01\/30\/real-terms-of-trade-imports-are-good-and-exports-are-bad\/","title":{"rendered":"Real Terms Of Trade: Imports Are Good And Exports Are Bad"},"content":{"rendered":"<p><em>YouTube<\/em> has a short video Real Terms Of Trade: Imports Are Good And Exports Are Bad with excellent written introduction to support the video.  I&#8217;ll just quote the first paragraph of the introduction.<\/p>\n<blockquote><p>\nWarren Mosler and Professor Stephanie Kelton discussing the real terms of trade. When we import something from a foreign country, we get the thing and they get dollars. When we export something to a foreign country, they get the thing and we get their currency. Which one is better for us? Imports are goods and services that we can consume but didn&#8217;t have to work to produce, while exports are goods and services that we had to work to produce but don&#8217;t get to consume. So from the point of view of our society as a whole, exports are a cost, while imports are a benefit.\n<\/p><\/blockquote>\n<div style=\"text-align:center\">\n    <iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/0Q8c9Z7Dexs\" style=\"border:thick ridge #009900;\" allowfullscreen><\/iframe>\n<\/div>\n<p>We need to stop buying the major baloney that our politicians want to feed us about trade, and start thinking about and understanding the reality.<\/p>\n<p>If you are tempted to reject what this video is saying, I suggest you read the article in my previous post <a href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2017\/01\/30\/ignore-the-trade-balance-concentrate-on-full-employment\/\" target=\"_blank\">Ignore the Trade Balance: Concentrate on Full Employment<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>YouTube has a short video Real Terms Of Trade: Imports Are Good And Exports Are Bad with excellent written introduction to support the video. I&#8217;ll just quote the first paragraph of the introduction. Warren Mosler and Professor Stephanie Kelton discussing the real terms of trade. When we import something from a foreign country, we get [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-23845","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/23845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=23845"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/23845\/revisions"}],"predecessor-version":[{"id":23846,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/23845\/revisions\/23846"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=23845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=23845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=23845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}