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re: EBC Book #1 - Economics in One Lesson by Henry Hazlitt
Posted on 6/23/17 at 7:07 am to RedStickBR
Posted on 6/23/17 at 7:07 am to RedStickBR
Question,
Speaking of the Tariff chapter which is what I just finished. Hazlitt states that if we buy the less costly sweater at 25$ from Great Britain then they will have more US dollars to buy exports from us. What happens if they choose to use those dollars in trade with another country rather than the US. Wouldn't we be worst off in that case then if the 5$ duty was in place.
Speaking of the Tariff chapter which is what I just finished. Hazlitt states that if we buy the less costly sweater at 25$ from Great Britain then they will have more US dollars to buy exports from us. What happens if they choose to use those dollars in trade with another country rather than the US. Wouldn't we be worst off in that case then if the 5$ duty was in place.
1
Posted on 6/23/17 at 7:30 am to RickySauwce
Good question. I think the implication may be that the country GB traded with would then have more USD to buy our exports with. Eventually those USD will be used by someone to buy goods from us.
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