Economics for Leaders. Lesson 10: International Markets. Countries don’t trade . People Do !. Voluntary Trade Creates Wealth - ALWAYS. International trade. National trade. Regional trade. Local trade. Balance of Payments. Current Account. Capital account. Goods & Services.
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Opinions matter and are of equal value at the ballot box. But on matters of rational deliberation the value of an opinion is determined by the knowledge and evidence on which it is based. Statements of opinion should initiate the quest for economic understanding, not end it.
Economic Reasoning Principle #5:
Understanding based on knowledge and
evidence imparts value to opinions.
Opening Markets Is Creating Wealth imparts value to opinions.
What is your lowest opportunity cost alternative?
What if – Zac doesn’t have a drivers license?
Take his Cheri to his favorite bistro at the Eiffel Tower?
Buy U.S goods & services
U.S. assets ?