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| | ANDONGKIM.COM - The World according to Arthur Laffer by Almasy |
 | | To the creator of the "Laffer curve", fl is white, bad is good, and the US current account deficit approaching 6% of US GDP is actually a capital surplus. |
 | | In yesterday's Wall St. Journal, Arthur Laffer argues that the US deficit is a direct reflection of our attractiveness as an investment destination, providing foreign investors with the highest rate of return on their "investment". |
 | | Laffer argued that spending on Chinese toys, Japanese cars and Korean cell phones actually "releases" US capital for other kinds of investments, that is, allows US companies to pursue other, presumably superior, lines of business. |
| www.andongkim.com /articles/2005/01/theworldaccordingtoarthurlaffer.htm (643 words) |
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