Imports, Exports, and Exchange Rates: Crash Course Economics #15

What is a trade deficit? Well, it all has to do with imports and exports and, well, trade. This week Jacob and Adriene walk you through the basics of imports, exports, and exchange. So, you remember the specialization and trade thing, right? So, that leads to imports and exports. Economically, in the aggregate, this is usually a good thing. Globalization and free trade do tend to increase overall wealth. But not everybody wins.

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"The creators of the thought bubble are Canadian. These GRAPHICS are IMPORTED"
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Seriously, isn't anyone gonna talk about that ACDC belt?

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I'm an econ major. Had to brush up on some basics since it's been a while since I graduated. This was very well explained. Please keep it up

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"Protectionism is unlikely to ever happen"
Trump: "hold my Big Mac"

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The US is the biggest exporter of dollars printed out of thin air. That's a pretty good deal for Americans.

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It's funny that he said our largest trade partner is Canada when China surpassed them like a week ago.

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[njmudaliar]

Capitalistic free trade is an amazing thing. Everyone is better off as the buyers get products worth more to them than the money they paid for it and the sellers get money that is worth more to them than the product they produced. More governments need to cut taxes & tariffs on trade and eliminate regulatory barriers so people can exchange goods more freely. It'll give us more jobs, more wealth, and more prosperity.

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