“Nations do not exist in isolation. Peoples have always roamed the globe in search of different opportunities. Nations principally trade to expand their consumption possibilities. In a world where we produce to consume, receiving goods and services is better in material terms than sending them elsewhere.” EconomicsTradeImportsMacroeconomicsExportsExternal Economy Book:Modern Monetary Theory: Key Insights, Leading Thinkers Source: Modern Monetary Theory: Key Insights, Leading Thinkers
“While export spending boosts national income, we consider exports to be a cost in the sense that they deprive the domestic population of the use of the real resources that are used up in the production of the goods and services sold abroad.” EconomicsTradeMacroeconomicsExports Book:Modern Monetary Theory: Key Insights, Leading Thinkers Source: Modern Monetary Theory: Key Insights, Leading Thinkers