Free Trade Will Help

By Econ70 | 10/20/2011
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Earlier this week, the Congress passed free trade agreements with Columbia, Panama and South Korea. Passage may be hailed as a political achievement for promoting principals of free trade and for shoring up allies. Unfortunately, it will not do much to help our economy. This is because these three countries are quite small and Columbia…

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Food is Expensive

By Econ70 | 05/31/2011
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In poor countries people spend much more on food than we do. In the Philippines 47% of income is spent on food. The amount is 45% in India, 40% in Vietnam, 36% in Indonesia, 33% in Thailand, 30% in China, 22% in Singapore, 14% in S. Korea. Here it’s just 8%. Because it’s so high…

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