A Country Is Not a Company

Let me begin with two examples of economic issues that I have found business executives generally do not understand: first, the relationship between exports and job creation, and, second, the relationship between foreign investment and trade balances.

an executive who has made $1 billion is rarely the right person to turn to for advice about a $6 trillion economy.

learn in economics courses won’t help them run a business.

first, the relationship between exports and job creation, and, second, the relationship between foreign investment and trade balances

very different from that which leads to success in business.

the style of thinking necessary for economic analysis is

believe that someone who has made a personal fortune will know how to make an entire nation more prosperous

an executive who has made $1 billion is rarely the right person to turn to for advice about a $6 trillion economy.