There is so much hype in economics that I can't help but put my nose and 2 cents into the discussion. Here goes Econ 101+.
First off, economics is a very complex subject and it is impossible to understand unless you have a solid grasp of advanced math and control systems. There are few people who have this set of skills and that applies to Economics professors. I have never been in an economics class where the students had the prerequisite technical background. This means that 99% of all economics classes have to be seriously watered down. The result is that 99% of those students who complete the economic classes only have enough understanding of economics to be dangerous to themselves and others. This is the starting point.
Trade is but one small part of economics, but an important one. Most economics professors jump right into trade as being "good" and then leaves the subject there expecting everything from there on to operate by "magic". Just have "faith" and you know what I think about "faith". Here is what you never hear.
(1) What is the best way to start a trading arrangement? What are the tools and guide lines?
(2) Once a trading relationship has been set up, how do you assure that it is equal and balanced? What are the tools and procedures recommended to correct a trading relationship that has wondered in the wrong direction.
(3) Once in a trading relationship, how does one get out?
(4) How far out of balance should a trading relationship get before corrective action is needed?
(5) What is the recommended set of actions to apply to a trading situation where one party is clearly taking advantage of the other as in "dumping".
(6) What are some of the down sides and pit falls of multilateral trading relationships and what form should the contractual relationship take.
(7) What are some actual case studies for trading relationships that have gone well over time and that have not gone well?
These are just a few of my notes on what appears to be left out of 99% of economics courses. You would think that serious economics courses would try to prepare students to "negotiate" trade contracts. I think that students are expected to gain these skills by "osmosis" and you know how that works.
My interest in this whole area was sparked with the European VAT. The first time that I ever heard of this and found that the USA was just sitting by in a daze while we were being screwed, I could not believe it. I have a sailboat that sailed around the world and found out that if it stayed anchored in European waters for more than a certain amount of time that I would have to pay a VAT tax of about 20% on the value of my boat. If more people knew things like this, I think that we would all be a lot better off. I would like to hear more discussion about trade and tariffs, but from people who have done their home work, not just attended an economics 101 class.
First off, economics is a very complex subject and it is impossible to understand unless you have a solid grasp of advanced math and control systems. There are few people who have this set of skills and that applies to Economics professors. I have never been in an economics class where the students had the prerequisite technical background. This means that 99% of all economics classes have to be seriously watered down. The result is that 99% of those students who complete the economic classes only have enough understanding of economics to be dangerous to themselves and others. This is the starting point.
Trade is but one small part of economics, but an important one. Most economics professors jump right into trade as being "good" and then leaves the subject there expecting everything from there on to operate by "magic". Just have "faith" and you know what I think about "faith". Here is what you never hear.
(1) What is the best way to start a trading arrangement? What are the tools and guide lines?
(2) Once a trading relationship has been set up, how do you assure that it is equal and balanced? What are the tools and procedures recommended to correct a trading relationship that has wondered in the wrong direction.
(3) Once in a trading relationship, how does one get out?
(4) How far out of balance should a trading relationship get before corrective action is needed?
(5) What is the recommended set of actions to apply to a trading situation where one party is clearly taking advantage of the other as in "dumping".
(6) What are some of the down sides and pit falls of multilateral trading relationships and what form should the contractual relationship take.
(7) What are some actual case studies for trading relationships that have gone well over time and that have not gone well?
These are just a few of my notes on what appears to be left out of 99% of economics courses. You would think that serious economics courses would try to prepare students to "negotiate" trade contracts. I think that students are expected to gain these skills by "osmosis" and you know how that works.
My interest in this whole area was sparked with the European VAT. The first time that I ever heard of this and found that the USA was just sitting by in a daze while we were being screwed, I could not believe it. I have a sailboat that sailed around the world and found out that if it stayed anchored in European waters for more than a certain amount of time that I would have to pay a VAT tax of about 20% on the value of my boat. If more people knew things like this, I think that we would all be a lot better off. I would like to hear more discussion about trade and tariffs, but from people who have done their home work, not just attended an economics 101 class.
