The Deficit Tango – PS On Point

 [VIEW THIS MESSAGE IN A WEB BROWSER]( [a26ae96f-e434-4dda-8fbc-9f4e4dd88302.png]( PS On Point Weekly Newsletter Charles Wyplosz dispels myths about the implications of current-account imbalances – and offers policy recommendations that get to the heart of the problem. long view FRIDAY, AUGUST 11, 2017 [The Deficit Tango]( The Deficit Tango Today, much of the world is fixated on current-account imbalances, with surplus countries demonized by deficit countries for supposedly hoarding demand, and deficit countries demonized by surplus countries for their supposed profligacy. But, while the preoccupation with imbalances is justified, the assumptions often underlying it are not. [Read More]( [Support Press Freedom]( PREVIOUSLY IN PS ON POINT [The Marshall Plan and "America First"]( The Marshall Plan and "America First" Over the years 1948-1952, the US devoted the equivalent of $800 billion in today's dollars to the reconstruction of western Europe. But whereas the Marshall Plan is widely regarded as the largest and most effective foreign-aid program in history, it is less widely appreciated for being the most successful example of an "America First" foreign policy. [Read More]( The content in this newsletter cannot be published without the express written consent of Project Syndicate. To secure rights, contact us at support@project-syndicate.org. Follow us on [Twitter]( and [Facebook](. [Subscribe to our YouTube channel]( and be the first to see our new videos when we post them. Need support? Contact us at support@project-syndicate.org Our mailing address is: Project Syndicate, PO Box 130, 120 21, Prague 2, Czech Republic © Project Syndicate, all rights reserved We are sending you this email because you chose to receive notifications from Project Syndicate. To edit your notification settings, or to unsubscribe, please visit your profile at [www.project-syndicate.org](. This email was sent to {EMAIL} [why did I get this?]( [unsubscribe from this list]( [update subscription preferences]( Project Syndicate · PO Box 130 · Prague 120 12 · Czech Republic