Greenspan on Seattle (Jim O'Connor)

[Michael Perelman]

I agree with Jim O'Connor's perspective on globalization.  I would like to add
one minor factor.  Imagine that the U.S. exports a car to another country.
Many of the parts of that car happened to be imported also.  The world level of
production increases by the price of a car, the world trade increases by the
price of the car plus the cost of the parts.  None of this detracts from one
Jim says.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu