Posted on 05/05/2016 6:16:36 AM PDT by GilGil
Water Williams was my favorite professor in the late 1970s when I got my MBA at Temple’s Business school. He is the clearest thinker I have ever known, and not just economically. If Trump could drag him out of semi retirement that would be awesome. Thomas Sowell is one of the greats but outspokenly anti Trump.
Williams has famously argued that showing a trade deficit with a trading partner is not a trade imbalance as it is always offset by an equal surplus in the current account. He suggested people should not be so worried about trade deficits.
This would seem to refute Trump’s view of these trade deficits as job killers.
I would love to have a longer conversation with Dr. Williams about this because he made these comments in the 1980’s. Would he have something to add in the current context?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.