econlife on ‘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.

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    Trash and Trade

    Nov 5, 10 • 110 Views • Economic Thinkers, International Trade and FinanceNo Comments

    A WSJ article tells us “Memo to All Staff: Dump Your Trash.” But should they?According to the article, Texas state workers, Phoenix city workers, and Dartmouth college professors have all been told to take out the trash. Texas, as a result, is...

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    Outsourcing and Immigration

    Nov 4, 10 • 110 Views • Businesses, Demand, Supply, and Markets, Developing Economies, International Trade and Finance, LaborNo Comments

    A recent economics paper provides a surprising solution to those who believe outsourcing is a problem. The story, as explained by George Mason economist Tyler Cowen, involves the connection between offshore jobs and immigration. Traditionally, economists say...

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    The PIIG’s Progress

    Nov 3, 10 • 111 Views • Economic Debates, Government, International Trade and Finance, Macroeconomic MeasurementNo Comments

    Almost everyone seems to be debating the same issues. Spend less, tax more, or both? Now perhaps Portugal has made some progress. Hoping to bring its budget deficit down to 4.6% of GDP in 2011, their VAT will ascend to 23%. But will they cut public sector pay...

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    Chinese Big Macs

    Oct 21, 10 • 116 Views • International Trade and FinanceNo Comments

    At 14.5 yuan or $2.18, a Beijing Big Mac is cheap. In the U.S. the price is closer to $3.71. As explained by The Economist, we just need to know about the Big Mac to know what the yuan should really buy. Dividing $3.71 (a US Mac) by 14.5 yuan (Chinese Macs)...

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    Nobel Cash

    Oct 15, 10 • 107 Views • Economic History, Economic Thinkers, Financial Markets, International Trade and FinanceNo Comments

    If you win a Nobel Prize, you get a cash prize of approximately $1.5 million. The size of that prize relates to how well the foundation that manages Alfred Nobel’s endowment has fared.  According to the Financial Times, during the 1990s the payout...