Written by Sig Silber Editor's note: Sarcasm detected. I only took one course in International Trade and was very impressed with the Marshall Lerner Condition which needs to hold to have devaluation improve your balance of trade. The Marshall Lerner… more »

Dan Kervick, New Economic Perspectives Effective governance in any country requires a well-designed system of public finance through which that government can achieve its various purposes and pursue the public interest.  If the system of public fina… more »

The next time someone tells you that the US government cannot "afford" to keep its promises to retirees, fund the arts, build bullet trains, and so on, ask them whether they understand a very simple accounting relationship which the author maintains is the most important identity in economics. more »