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6 Keys to economic growth

DanT
Posts: 5,693
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3/6/2012 10:26:03 AM
Posted: 4 years ago
1.) Must encourage more exports than imports
2.) Must encourage trade and innovation
3.) Must not be sticky
4.) Must encourage investments
5.) Must encourage consumption
6.) Must promote economic freedom, and property rights
"Chemical weapons are no different than any other types of weapons."~Lordknukle
Stephen_Hawkins
Posts: 5,316
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3/6/2012 11:31:18 AM
Posted: 4 years ago
At 3/6/2012 10:26:03 AM, DanT wrote:
1.) Must encourage more exports than imports
Depending on your economy. Britain imports more than it exports, but because of subsidies, taxes, financial situation etc. it makes money.
2.) Must encourage trade and innovation
Seems extremely general, but without any practical explanation behind the "key".
3.) Must not be sticky
Sticky meaning any formal term, or just staying with traditional policies and not updating (which would fall under innovation)?
4.) Must encourage investments
See point 2
5.) Must encourage consumption
See point 4
6.) Must promote economic freedom, and property rights
Breaking up of monopolies boosts economic growth. There are other examples, but I cannot go into them now. @Property rights, see point 5.
Give a man a fish, he'll eat for a day. Teach him how to be Gay, he'll positively influence the GDP.

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Mimshot
Posts: 275
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3/6/2012 11:57:00 AM
Posted: 4 years ago
I agree with all except point 1. Exports are real costs (things we build but send elsewhere) and imports are real gains (things that are the product of someone else's work or investment yet we get to consume).

Also, I'm not sure what you mean by "sticky."
Mimshot: I support the 1956 Republican platform
DDMx: So, you're a socialist?
Mimshot: Yes
DanT
Posts: 5,693
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3/6/2012 1:39:38 PM
Posted: 4 years ago
At 3/6/2012 11:57:00 AM, Mimshot wrote:
I agree with all except point 1. Exports are real costs (things we build but send elsewhere) and imports are real gains (things that are the product of someone else's work or investment yet we get to consume).

Also, I'm not sure what you mean by "sticky."

sticky is a situation in which a variable is resistant to change.

Also we can increase investments by eliminating the deficit
"Chemical weapons are no different than any other types of weapons."~Lordknukle
DanT
Posts: 5,693
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3/6/2012 1:44:06 PM
Posted: 4 years ago
At 3/6/2012 1:39:38 PM, DanT wrote:
At 3/6/2012 11:57:00 AM, Mimshot wrote:
I agree with all except point 1. Exports are real costs (things we build but send elsewhere) and imports are real gains (things that are the product of someone else's work or investment yet we get to consume).

Also, I'm not sure what you mean by "sticky."

sticky is a situation in which a variable is resistant to change.

Also we can increase investments by eliminating the deficit

also I didn't say discourage imports I said encourage exports
"Chemical weapons are no different than any other types of weapons."~Lordknukle
Mimshot
Posts: 275
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3/6/2012 2:25:05 PM
Posted: 4 years ago
At 3/6/2012 1:44:06 PM, DanT wrote:
At 3/6/2012 1:39:38 PM, DanT wrote:
At 3/6/2012 11:57:00 AM, Mimshot wrote:
I agree with all except point 1. Exports are real costs (things we build but send elsewhere) and imports are real gains (things that are the product of someone else's work or investment yet we get to consume).

Also, I'm not sure what you mean by "sticky."

sticky is a situation in which a variable is resistant to change.

Also we can increase investments by eliminating the deficit

also I didn't say discourage imports I said encourage exports

You said encourage more exports than imports. I thought that meant you want a trade surplus. Did you mean more encouragement for exports than for imports? Either way, I guess I stand by my statement that exports are real costs and imports are real gains.

How does eliminating the deficit (I assume you mean government deficit) increase investment?
Mimshot: I support the 1956 Republican platform
DDMx: So, you're a socialist?
Mimshot: Yes
darkkermit
Posts: 11,204
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3/6/2012 3:28:55 PM
Posted: 4 years ago
At 3/6/2012 2:25:05 PM, Mimshot wrote:
At 3/6/2012 1:44:06 PM, DanT wrote:
At 3/6/2012 1:39:38 PM, DanT wrote:
At 3/6/2012 11:57:00 AM, Mimshot wrote:
I agree with all except point 1. Exports are real costs (things we build but send elsewhere) and imports are real gains (things that are the product of someone else's work or investment yet we get to consume).

Also, I'm not sure what you mean by "sticky."

sticky is a situation in which a variable is resistant to change.

Also we can increase investments by eliminating the deficit

also I didn't say discourage imports I said encourage exports

You said encourage more exports than imports. I thought that meant you want a trade surplus. Did you mean more encouragement for exports than for imports? Either way, I guess I stand by my statement that exports are real costs and imports are real gains.

How does eliminating the deficit (I assume you mean government deficit) increase investment?

It doesn't. In fact it does the opposite. In reality the balance of trade is balanced out. However, when people say there is a trade deficit it means that one nation exports more consumer goods and services. However, this is balanced through capital exchange, bonds, stocks, and reserve currency. So If the US is experiencing a trade deficit, it means people are investing in the US. The US is trading capital goods for consumer goods and services.
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Double_R
Posts: 4,886
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3/6/2012 3:54:24 PM
Posted: 4 years ago
At 3/6/2012 10:26:03 AM, DanT wrote:
1.) Must encourage more exports than imports
2.) Must encourage trade and innovation
3.) Must not be sticky
4.) Must encourage investments
5.) Must encourage consumption
6.) Must promote economic freedom, and property rights

This is kind of like saying that the key to winning the Superbowl is to score more points then your opponent. Explaining how you plan to do that is not so easy, unless you just refer to more rhetoric…

At 3/6/2012 1:39:38 PM, DanT wrote:
Also we can increase investments by eliminating the deficit