tag:blogger.com,1999:blog-3098264341625381422.post3461612872698162120..comments2024-03-18T17:01:07.165-07:00Comments on The Provocateur: How the Dollar Works (and Why Current Policy Will Wreck it and the Economy With It)mike volpehttp://www.blogger.com/profile/02999118519606254362noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3098264341625381422.post-31570324706486155292009-07-29T19:52:40.402-07:002009-07-29T19:52:40.402-07:00Thanks for the clear explanation, I was looking to...Thanks for the clear explanation, I was looking to understand why a person in India (or whatever other random country you like) can live on so many fewer dollars per day and still buy somewhat comparable food, clothing, shelter, etc. to an American earning so many more dollars per day.<br /><br />It strikes me as odd that we have arranged monetary exchanges in this manner. I know people view the gold standard as archaic, but it at least gave everyone a common basis for valuing a currency that isn't as touchy feely as how confident traders are in the dollar.<br /><br />It to my naive mind that it makes sense that whatever unit of currency in America that buys an ear of corn or a Chevy should equate to the unit of some other currency that buys an ear of corn or a Chevy. Then trade would not be affected by the label on the currency, just the actual cost of creation and distribution of goods. If you can grow apples cheaper than me because of better soil, climate or farming techniques then you will grow apples and I'll find a line of work I can compete in. Seems that this would generate the most overall economic efficiency and productivity worldwide.<br /><br />Again, I know that probably sounds painfully naive, but I'd love to hear more about why that is so.Kevinhttps://www.blogger.com/profile/10433350312948607972noreply@blogger.comtag:blogger.com,1999:blog-3098264341625381422.post-23771825650870915222009-07-13T14:02:14.043-07:002009-07-13T14:02:14.043-07:00good one, mike. bookmarked and printed.
I don...good one, mike. bookmarked and printed.<br /><br />I don't always have time to read you in a timely manner but I do try to keep up.<br /><br />Thanks so much for the excellent work.<br /><br />Best,<br /><br />wahabicorridorAnonymousnoreply@blogger.com