- Bob Murphy’s main argument is that Americas current trade deficits can actually be beneficial. The US can function off a deficit because the US dollar can be used in other countries as well, and was independent and not connected to the value of gold, but had its own value.
- Murphy applies scripture to back up his argument because he talks about how God established earthly kingdoms, even to rule over others, but ultimately to be ruled by God.
I liked your point about how the dollar has its own independent value that isn't tied into the value of gold. It gives another reason as to why trade deficits aren't as bad as one may think just because it explains how the dollar can come back. I also liked your point on how Murphy applied scripture and how God has authority over earthly kingdoms.