Episode 192: Trading with Benefits
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The Importance of Entrepreneurship in the United States
A trade deficit with a single country has no meaning. But when you add up all the countries, a trade deficit in the United States has that. The U.S. spends more on foreign imports than foreigners spend on American exports. Americans are really good at producing is entrepreneurial activity. That's our export. We're great entrepreneurs. And so here you have the Americans doing what they do coming up with cool ideas and selling them to the foreigners,. buy them, we'll make more.
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