Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit.
“The system has for its object an increase of persons that are to intervene between the producer and the consumer, living on the product of the land and labour of others, diminishing the power of the first, and increasing the number of the last.”
“There is no clear sign that the economy is turning the corner in a meaningful way.”