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Old 01-11-2014, 07:20 AM
 
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Phil P, for an explanation of the trade defict's Detriment to the economy, refer to the discussion thread of
"Annual trade deficits are ALWAYS an immediate detriment to their nations’ GDPs".
Annual trade deficits are ALWAYS an immediate detriment to their nations’ GDPs

For this proposed remedy google Wikipedia’s article
entitled “Import Certificates”.

Respectfully, Supposn

Last edited by Supposn; 01-11-2014 at 07:55 AM..
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Old 02-17-2014, 02:10 PM
 
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Warren Buffet has proposed similar:

Levy Economics Institute | Publications
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Old 02-17-2014, 09:47 PM
 
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Quote:
Originally Posted by marcopolo View Post
Free trade lets us pay less for everything we use and get more for everything we produce. Our country and the world as a whole are richer as a result. The idea of import certificates, or tariffs, or bounties, or any other restraint of trade will necessarily produce a lower standard of living for the average citizen.
yep; free trade is for the advantage of the consumer and many would tariff it to not compete. they love in in the 50's when US exported to others. its like middle class it has continued to grow just not all in western nations alone like so often in the past. But even the it reduced cost to the consumer worldwide except those who limit trade by tariffs. or other means.
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Old 02-20-2014, 06:03 AM
 
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Quote:
Originally Posted by Hoonose View Post
Warren Buffet has proposed similar:

Levy Economics Institute | Publications
Hoonose, thanks for introducing an additional site of economic information and discussion. I had not previously encountered the Levy Economics Institute.

This topic’s original initial post invites readers to google Wikipedia’s article entitled “Import Certificates”.

The first paragraph of that article mentions Buffett’s 2003 shared authorship of the original published proposal and the concept’s 2006 introduction to the U.S. Senate are mentioned.

Respectfully Supposn
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Old 05-26-2014, 10:53 AM
 
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An Import Certificate, (IC) policy would be of advantage to any enacting nation that otherwise suffers annual international trade deficits of goods.

If we consider importing and exporting as a single global trade industry, an IC policy would not be detrimental to any industry of such a nation and it would be of some net benefit to any of that nation’s enterprises that compete or aspire to compete with foreign goods within or beyond that nation’s borders.

Nation’s IC policy would be no more, and generally less vulnerable to contra-tariffs or other activities that attempt or do undermine their nation’s global trade. USA while attempting to seek a policy of pure free trade often suffers due to such mischief.
Some posters to this thread declare this proposal to be an unjustified boon to capitalist exporters of USA produced goods and some others declare it to be a socialistic restriction upon free enterprise.

This unilateral nationalistic international trade policy is equally compatible to the most socialistic or the most capitalistic economies and although it is not detrimental to any of the enacting nations’ industries, it does not choose to favor any of the nation’s enterprises.

Refer to Wikipedia’s article entitled “import Certificates”
and/or
the paragraphs entitled “Trade Balances' effects upon their nation’s GDP” within the Wikipedia article entitled “balance of trade”.

Respectfully, Supposn
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Old 02-25-2015, 09:41 AM
 
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Transcript of post from thread Question for professional economists on manufacturing policy
Quote:
Originally Posted by tigerbalm1985
Hi, I am currently doing research on manufacturing policy and its relation to economic development.

This post is directly mainly at people whom have formal education in economic thinking.

I understand that Japan and South Korea’s economy initially grew on export-oriented manufacturing (EOM).

I also read that many countries in South America also practices Import Substitution Industrialization (ISI) which blocked foreign imports, and attempted to produce all goods domestically.

Granted, I understand that Japan and South Korea's model is specifically aimed at competing abroad outside their own countries, in foreign markets and with foreign rivals. Whereas the ISI model of South America is aimed at protecting local manufacturers from outside competition, via locally-producing the consumer goods needed in the home market.


However, the economic incentives for EOM were higher, driving competitiveness, creating a gap of structural inefficiencies between EOM and ISI. But why did the South American manufacturers and governments not re-tool in time to switch to EOM (although it can be argued that embracer is an exception)

TigerBalm 1985, I’m among those advocating an Import Certificate policy for USA’s global trade. This is a unilateral market (rather than government) driven policy.

All of its direct costs are eventually and surely paid by USA purchasers and users of imported goods; it’s an indirect but effective subsidizer of USA exported goods.

It’s no more and generally less, (than free trade or other policies) vulnerable to mischief that may undermine USA’s global trade. Regardless of whatever other nations may do to hinder USA trade would be much more harmful to themselves and of much lesser consequences to the USA.
Annual trade deficits are always an immediate detriment to their nation’s numbers of jobs. Consequentially they are detrimental to their median wage and their entire economy.

This is all discussed within the Wikipedia article entitled “Import Certificates”
and the paragraphs entitled “Trade balances affects upon their nation’s GDP” within Wikipedia’s article entitled “Balances of trade”.

Also these are the topics of the discussion threads
Reduce the trade deficit; increase GDP & median wage
and
Annual trade deficits are ALWAYS an immediate detriment to their nations’ GDPs. .

Respectfully, Supposn
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Old 06-27-2015, 06:22 AM
 
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Comparison between a tariffs and an Import Certificate policy.

TexDav and ThatsRight19, posts within the thread Why trade agreements should include restricting tradeable services
were in regard to faults of tariff policies for global trade. An Import Certificate policy is significantly superior to tariffs.

Under an Import Certificate, (IC) policies Importers are required to surrender transferable ICs with face values covering the assessed values of their import shipments. (The surrendered certificates are cancelled),
Under a Tariff policy importers are required to pay the tariff rates for the imported goods. In both cases the entire costs of the trade policy are paid by the eventual USA purchasers of imported goods.

Tariffs are net sources of their governments’ revenues.

IC’s are not a source of net government revenues but their net funds are a direct but effective subsidy of their nations’ exported goods.
Exporters of USA goods could choose (they are not required) to request their individual shipment of USA export goods be assessed and they agree to pay the fees. Their motivation is to acquire the valuable transferable ICs with face values equal to the assessed values of their export shipment. Only a minor portion of transferable ICs fees are expected to be attributable to the fees which are set to defray entire direct federal expenses for administrating the IC policy.

Unlike legislative determined tariff rates, the majority of IC’s values per face value dollars are determined by the global markets,
ICs global market values increase when USA purchasers are willing to pay more for imported goods and they decrease when USA purchasers are less willing.
ICs global market values decrease when foreign purchasers are less willing to pay more for USA goods and increase when foreign purchasers are more willing.
The additional prices of foreign goods sold to USA purchasers are dependent upon IC’s global market values.

Creatures, nations, industries and enterprises all adjust to the environments within which they must function. Changes of environments change behaviors. Tariffs and Import certificate trade policies are different environments. Almost everything that you expect from a tariff environment is not to be expected from an Import Certificate environment.

Respectfully, Supposn
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Old 06-27-2015, 08:53 AM
 
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Quote:
Originally Posted by Supposn View Post
Comparison between a tariffs and an Import Certificate policy.

TexDav and ThatsRight19, posts within the thread Why trade agreements should include restricting tradeable services
were in regard to faults of tariff policies for global trade. An Import Certificate policy is significantly superior to tariffs.

Under an Import Certificate, (IC) policies Importers are required to surrender transferable ICs with face values covering the assessed values of their import shipments. (The surrendered certificates are cancelled),
Under a Tariff policy importers are required to pay the tariff rates for the imported goods. In both cases the entire costs of the trade policy are paid by the eventual USA purchasers of imported goods.

Tariffs are net sources of their governments’ revenues.

IC’s are not a source of net government revenues but their net funds are a direct but effective subsidy of their nations’ exported goods.
Exporters of USA goods could choose (they are not required) to request their individual shipment of USA export goods be assessed and they agree to pay the fees. Their motivation is to acquire the valuable transferable ICs with face values equal to the assessed values of their export shipment. Only a minor portion of transferable ICs fees are expected to be attributable to the fees which are set to defray entire direct federal expenses for administrating the IC policy.

Unlike legislative determined tariff rates, the majority of IC’s values per face value dollars are determined by the global markets,
ICs global market values increase when USA purchasers are willing to pay more for imported goods and they decrease when USA purchasers are less willing.
ICs global market values decrease when foreign purchasers are less willing to pay more for USA goods and increase when foreign purchasers are more willing.
The additional prices of foreign goods sold to USA purchasers are dependent upon IC’s global market values.

Creatures, nations, industries and enterprises all adjust to the environments within which they must function. Changes of environments change behaviors. Tariffs and Import certificate trade policies are different environments. Almost everything that you expect from a tariff environment is not to be expected from an Import Certificate environment.

Respectfully, Supposn
About 10 years back Warren Buffett was touting these certificates. I couldn't decide if they were better for Warren, his businesses, businesses in general or the general public.

Levy Economics Institute | The Buffett Plan for Reducing the Trade Deficit

Balancing Trade – Remember The “Buffett Plan”
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Old 06-27-2015, 01:28 PM
 
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Quote:
Originally Posted by Hoonose View Post
About 10 years back Warren Buffett was touting these certificates. I couldn't decide if they were better for Warren, his businesses, businesses in general or the general public.

Levy Economics Institute | The Buffett Plan for Reducing the Trade Deficit

Balancing Trade – Remember The “Buffett Plan”
HooNose, if we consider importing and exporting as a single industry, the Import Certificate policy would not be of harm to any USA industry. It would be of benefit to any USA enterprise that competes or aspires to compete with foreign goods within or beyond USA’s borders.

Respectfully, Supposn
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Old 08-14-2015, 08:24 AM
 
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Quote:
Originally Posted by Supposn View Post
HooNose, if we consider importing and exporting as a single industry, the Import Certificate policy would not be of harm to any USA industry. It would be of benefit to any USA enterprise that competes or aspires to compete with foreign goods within or beyond USA’s borders.

Respectfully, Supposn
I never looked deeply enough into the policy. On face value it has made some sense. Maybe Bernie Sanders may bring it up. His economic adviser Stephanie Kelton has close ties to the Levy institute.
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