Professor Mark J. Perry's Blog for Economics and Finance
This sounds a lot like currency manipulation, i.e. actively pursuing a manipulative strategy to keep the U.S. dollar overvalued for American consumers, by deliberately keeping goods sold in America undervalued, under-priced, discounted and on sale.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
6 Comments:
Actually, I think Walmart is pretty good among retailers about not using the "sale" gimmick. They do advertise when prices on an item go down, but it's usually not a temporary drop, and they don't require loyalty cards or things like that. If anything, don't discount retailers deflate the dollar and make it seem more valuable?
Wal-Mart of China CEO, Ed Chan, has resigned for "personal reasons". This was after:
" ...China's National Development and Reform Commission accused Wal-Mart, and its French rival Carrefour, of manipulating prices at 19 stores."!!!
Dr. Perry,
Your comments never include an analysis of broadening the tax base and increasing velocity through "buy American". Wouldn't there be a lower welfare cost and thus a benefit to consumers from a multiplier effect once traction gains? Call it a charity dividend.
I'm all for the Fed printing money until everyone and anyone hoarding US Treasuries gets fed up and starts consuming US goods instead, but that only means this generous "Chinese" gift comes to an end. I quoted Chinese because it may as well go for all hoarders of USD.
All input will be appreciated. I'm interested in scholarly work more than anything. Thanks.
Sigli"Your comments never include an analysis of broadening the tax base and increasing velocity through "buy American". Wouldn't there be a lower welfare cost and thus a benefit to consumers from a multiplier effect once traction gains? Call it a charity dividend."
While I can't speak for Dr. Perry, I can only imagine that he isn't interested in presenting analyses that require using long ago discredited theories like the "quantity theory of money" as presented by Irving Fisher.
Fisher's theory has been refuted by Benjamin Anderson and
Henry Hazlitt, among others.
You can find their "scholarly work" at the links provided.
Well those were useless.
Sigli: "Well those were useless"
In what way? Didn't they help explain why not many people inject MV=PT into their comments?
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