Do Current Account Deficits Matter?

About this video

Do current account deficits matter? This is the question that Antony Mueller analyzes in his lecture by using the examples of the United States, Europe, Japan, and Latin America to compare different account deficits. He talks about the United States, a country that has imported more goods than it has exported, which has caused its current account deficit to grow dramatically from $445 billion in 2000 to $500 billion in 2004. As well, he comments on the large amount of money that the European have accumulated in their reserves and that is no longer needed due to the shared currency and describes the Japanese surplus of $600 to $800 billion that is used for pension funds. Mueller shares his thesis in which he explains that the United States has experienced a high prosperity based on debt while Japan has stabilized its recession by manipulating the Yen and by inducing exports. Mueller’s analysis enriches the knowledge and awareness of the current economic situation worldwide.

Antony Mueller

Dr. Antony P. Mueller was born in Germany where he obtained his doctorate in economics from the University of Erlangen-Nuremberg. He is currently professor at the Federal University of Sergipe (UFS) in Brasil and academic director of the Instituto Mises Brasil. Antony Mueller is the founder of “The Continental Economics Institute” (www.continentaleconomics.com) and an adjunct scholar of the Ludwig von Mises Institute USA. He maintains the blog Cash & Currencies (www.cashandcurrencies.blogspot.com). Write e-mail to antonymueller@yahoo.com.

Source: www.ufm.edu
Last update: 05/08/2010

Credits

Do Current Account Deficits Matter?
Antony Mueller

Friedrich A. Hayek Auditorium
Universidad Francisco Marroquín
Guatemala, January 27, 2004

A New Media - UFM production. Guatemala, January 2004
Camera: Sergio Miranda; digital editing: Alexander Arauz, Jorge Samayoa; index: Inés Zúñiga; synopsis: Sebastian del Buey; synopsis reviser: Daphne Ortiz; publication: Pedro David España

This work is licensed under a Creative Commons 3.0 License
Este trabajo ha sido registrado con una licencia Creative Commons 3.0