How should a principled nation which believes in the benefits of mutually beneficial trade respond to the predations of mercantilist trading partners and imbalanced trade? Many argue that the response should be to do little or nothing. Balanced Trade argues that achieving the full benefits of international trade requires an effective response. Although trade deficits provide short-term gains in consumption, these are combined with long-term losses in consumption, innovation, investment, employment and power. Furthermore, market mechanisms do not correct trade imbalances that result from mercantilism, nor do they compensate for the long term shift in production and consumption towards the mercantilist. Balancing trade can make important short run and long run contributions to economic stability and prosperity. In America today, despite the growing evidence that imbalanced free trade is not working, many American economists remain adamant in their promotion of free trade. They are also quick to label actions taken to balance trade as protectionism. The political system has also failed to effectively address the problem of imbalanced trade, and the Federal Reserve has often exacerbated rather than addressed the challenge. We show that the classical economic arguments against mercantilism do not justify doing nothing. Effectively responding to imbalanced trade and mercantilism requires careful selection of strategy in order to achieve multiple objectives: balancing trade while maintaining the benefits of international trade, avoiding unnecessary inefficiencies, and maintaining compliance with international law. One of the best options is the Scaled Tariff. By targeting countries with which the United States has a large current account deficit, the Scaled Tariff would efficiently, legally, and effectively balance trade. It would be applied to all imported goods from trade surplus countries that have had a sizable trade surplus with the United States over the most recent four economic quarters.The tariff rate would be designed to take in a portion (e.g. 50%) of the bilateral trade deficit (goods plus services) as revenue. No particular product is protected; the scaled tariff simply changes the terms of trade between the two countries, much as currency devaluation would change the terms of trade with all countries.

Balanced Trade: Ending the Unbearable Costs of America’s Trade Deficits

Business & Money

Richman, Howard

Richman, Raymond

Richman, Jesse

Economics

Lexington Books

The Three R's at Home

Richman, Susan

Parenting & Relationships

Pennsylvania Homeschoolers

Story of a Bill: Legalizing Homeschooling in Pennsylvania

Education & Teaching

Moore, Raymond S.

Pitts, Joseph R.

Schools & Teaching

Stan Thirsk, one of the best golf professionals in America (1980 PGA Professional of the Year), is a Kansas City legend. He was the head pro at Kansas City Country Club for 32 years. Read stories of how Thirsk learned the game of golf and developed a love for the game that has lasted a lifetime. Learn the tips Thirsk taught to his pupils, including one of the all-time greats, Tom Watson. All Things Golf is a keepsake for all the golf fans, as well as for the fans of great people!

All Things Golf: Lessons, Thoughts, Tips, Reminders and Memories From Stan Thirsk

Kansas City Star Books

A book and cd package Modern medicine in America has finally embraced what alternative healers have known for centuries: Music and guided imagery have a profound healing power. The first volume of the groundbreaking series Sound Healing combines a guidebook with a CD of original musical compositions and guided imagery that people can use as a self-help tool to ease chronic pain. These two healing therapies are backed by so much positive medical research that they are now being used in hospitals and clinics across the country. The book explains step-by-step how these techniques work and how to use the CD to help relieve pain; it also features a journal where readers can record their pain level, their progress, and their feelings. The CD offers relaxing piano music designed to influence the biological responses that can trigger healing, followed by a soothing spoken guided imagery to bring listeners to a meditative, pain-free state. Created by professionals in each healing art, this remarkable package is designed to help alleviate all forms of chronic pain-from backaches and arthritis to headaches and muscle spasms.

Sound Healing: Ease Chronic Pain

Health, Fitness & Dieting

Nelson, Judy

Diseases & Physical Ailments

STC Healthy Living

Procurement Confidential

Handfield, Robert

wessex, inc.

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Books by Richman, Howard