Wednesday, June 25, 2008
The Day the Dollar Falls
I talk a fair bit in my econ classes about the plight of the dollar. Globalization has made it a competitive necessity for American manufacturers to move production off shore. The result is an increase in imports, and a decline in our ability to export manufactured goods, or to make the goods we buy in country. We are faced with a perpetual balance of payments deficit. This situation is not sustainable. Here is a Dutch broadcast video about that problem. It's largely done with subtitles, but is quite good. Good enough to merit the inconvenience of a bit of reading. Have a look:
The Day the Dollar Fell Video
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