If everybody's denominating their trade in the same currency, where's the differential feedback come in?
-
-
exports pay for imports, so what happens when your local economy can import things that *its* exports didn't buy?
-
Local production can pay for imports too, this has not yet been understood
-
local production does pay for imports! all imports are paid for by some kind of production, question is whose
-
And the conventional answer is, "Only those sold overseas." This is not correct, societies generate absolute wealth
-
yes, the core error is thinking that sovereign states are useful economic units (only cities are)
-
if you make a chair in Portland ME, sell in Portland OR, is that "sold overseas?" technically no, functionally yes
-
Dagnabit, you're gonna make me write a white paper on this
End of conversation
New conversation -
-
-
This has the makings of a damn intricate discussion
-
tbh I'm confusing myself a bit, the dismal science can be truly dismal.
-
Yeah i dropped it for theology because that was simpler :D
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.