Source: David Friedman’s Substack
by David Friedman
“The simplest way to make dollars worth less is to inflate the currency, print more dollars. While that lowers the value of the dollar in international trade it does not make our goods more attractive to foreigners — they get more dollars for their Euros but need more dollars to buy our goods, since prices have gone up. So it does not reduce the trade deficit or provide jobs for people in export or import-competing industries, which is what Trump and Vance want.” (09/11/24)