Keith Evans
1 min readApr 26, 2022

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When examined through the proper lens, exports are a net "drain" on an economy that can support itself otherwise, not a net gain. This is because the exporting economy is producing goods, using domestic labor and resources, that it doesn't gain from. This assumes a sovereign fiat currency that the issuer cannot run out of.

The concept of exports being a net gain is leftover from the gold standard because nations traded with each other in gold, not currencies, and their domestic economy/currency depended upon their gold reserve. With no commodity pinned to a currency or debt in a foreign currency the economy is reliant upon the real resources it can produce, including the labor of both its citizens and that of other nations willing to export to it.

The productivity of your citizens is quite high, and your generous benefits and safety net assure that productivity is shared much more equitably than in the US or other "conservative" countries. Investing in that productivity via healthcare, education, infrastructure, etc has paid off for you and your neighbors. America would be wise to take some lessons from you.

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Keith Evans
Keith Evans

Written by Keith Evans

Meandering to a different drummer.

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