International Trade and Finance

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

  • 16502_7.20_000016323114XSmall

    Venezuela’s Economic Problems

    Jul 20, 11 • 1114 Views • No Comments

    Venezuela has 2 basic economic problems: The law of supply: Because price and quantity move in the same direction, if price goes down, then producers provide less. This takes us to Venezuela’s 27.1% inflation rate. President Hugo Chavez responded by......  [read more]

  • 16500_3.9_000008354384XSmall

    Mixed Euro Zone Metaphors

    Jul 19, 11 • 529 Views • No Comments

    In this Economist podcast, journalists describe the euro zone debt crisis with a wonderful array of metaphors. (Directly and indirectly, I quote what they said.) Minnows: The smaller peripheral nations in the euro zone, Greece, Ireland and Portugal are......  [read more]

  • 16492_6.16_000006078784XSmall

    Debt Ceiling 101

    Jul 15, 11 • 519 Views • No Comments

    During the month of August, if the U.S. hits its debt ceiling of $14.3 trillion and the Congress says, “No, you cannot borrow anymore,” then what will happen? During August, the U.S. will have $172B (billion) in federal revenues and $307B in......  [read more]

  • 16486_7.12_000014562280XSmall

    Productivity: Working Weekends

    Jul 12, 11 • 401 Views • No Comments

    Israel has to decide when to have a weekend. The Israeli Sabbath, Friday sunset through Saturday sunset will be a part of it. The second day? Sunday and Friday are possibilities. Knowing that productivity is a major consideration, Israel’s prime......  [read more]

  • 16474_11.11_000012487089XSmall

    A Corn Price Surprise

    Jul 7, 11 • 566 Views • No Comments

    Interesting how real life can imitate economics. You know how corn prices have been soaring? Well, farmers responded just like they read an econ textbook. They increased supply. One tradeoff?  A smaller soybean crop. Here are the headlines. You can see......  [read more]