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Archive for 'balance of payments'

What Caused the American Civil War?

One hundred and fifty years ago Americans were fighting a most bloody civil war. There were serious persons then and now that blamed the war on Eli Whitney for his invention of the cotton gin in 1794. While Whitney’s gin directly reduced the demand for slaves to separate cotton fibre from the seeds, it broke [...]

Posted by Mel Watkins under balance of payments, economic history.
January 29th, 2013
Comments: 3

The Current Account Deficit

The National Bank have published a very useful and interesting report on the current account deficit, which is now running at about 3% of GDP. They argue that the deficit – largely driven by a huge fall in our manufacturing and wider goods trade balance – has now become structural, and should be cause for [...]

Posted by Andrew Jackson under balance of payments, exchange rates, international trade.
March 28th, 2012
Comments: 4

Unequal = Indebted

The IMF find that rising inequality is a key driving force behind balance of payments problems and domestic instability in developed countries. “what unites the experiences of the main deficit countries is a steep increase in income inequality over recent decades, as measured by the share of income going to the richest 5 percent of [...]

Posted by Andrew Jackson under balance of payments, global imbalances, inequality.
November 23rd, 2011
Comments: 1

The Fundamentals Are Pretty Shaky

Thanks to Arthur Donner’s Economic Comment for bringing this to my attention. The official line we hear everyday is that the Canadian fundamentals are great, while other countries are in deep trouble because they are spending beyond their means and borrowing too much from the rest of the world. Yet IMF projections show that Canada’s [...]

Posted by Andrew Jackson under balance of payments, global imbalances, international trade.
October 3rd, 2011
Comments: 2