EconWatch.com > Global Imbalances in Historical Perspective

[Brad DeLong's Semi-Daily Journal] Abstract: Great attention is now being paid to global imbalances, the growing U.S. current account deficit financed by growing surpluses in the rest of the world. How can the issue be understood in a more historical perspective?

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http://www.econstrat.org [Econstrat.org] Comparative Advantage - From the Economic Strategy Institute: Investors don’t seem to pay them much mind, as Morgan Stanley is reporting that the common perception voiced at its annual MacroVision seminar last week was that imbalances would unwind gradually into a soft landing as steady consumer demand in the US is augmented by growing demand abroad. Some economists are also suggesting that imbalances either don’t matter - the Bretton Woods II school led by Messrs Dooley, Folkerts-Landau and Garber - or grossly misread the true state of America’s global investment position - the ”˜dark matter’ school led by Messrs Hausmann and Sturzenegger.

[Delong.typepad.com] Brad DeLong's Semi-Daily Journal: Econ 210a: Fall 2006: Trade and ...: Historical perspectives are tricky things. Hall's reminder about Skinner's problems with mythologies and prolepsis of parochialism, assigning a book a "place in history" or presupposing a debate from an historical perspective while ignoring the authors own intentions, is a useful warning to those who would interpret an authors works.

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