Former Assistant U.S. Trade Representative Harry Broadman has called the merchandise bilateral trade deficit an “economically meaningless metric”. Alex discusses why he doesn’t understand Broadman’s stance and breaks down why he thinks the trade deficit has a material impact on GDP.
This is an excerpt from episode 37 of Winner Take All. Watch the full episode here: youtu.be/LW7kGmtlH1s
Comparing Real and Nominal GDP: courses.lumenlearning.com/boundless-economics/chapter/comparing-real-and-nominal-gdp/
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