2. Can an Indian billionaire sell cricket to the United States? (No, says I)
5. Scott Sumner on the stronger vs. weaker dollar. I say imagine that foreigners decided to remit 1% of every dollar-connected foreign exchange transaction to me and Scott. Yes there are second best possibilities, but I still think the likely answer is that America is better off. I don’t so much worry about higher real wages that result from higher wealth. What’s hard is specifying the ceteris paribus conditions properly, so that other changes don’t have a chance to offset the initial wealth gains.