- His argument is that the American trade deficits are misunderstood. When the US left the gold standard, it changed the value of the dollar because they weren't connected to gold anymore. Because the US dollar is the reserve currency, the US can keep running trade deficits unlike other countries. He says countries like China are not the cause for the trade deficits.
- The way he brings up scripture is by saying that voluntary trade brings mutual benefit similarly to the Golden Rule. Trade involves cooperation.
Chapter 9 Watch and Respond
Chapter 9
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