Making Sense of the Dollar: Exposing Dangerous Myths about Trade and Foreign Exchange

Introduction.

1 Myth 1: The Trade Deficit Reflects U.S. Competitiveness.

2 Myth 2: The Current Account Deficit Drives the Dollar.

3 Myth 3: You Can't Have Too Much Money.

4 Myth 4: Labor Market Flexibility Is the Key to U.S. Economic Prowess.

5 Myth 5: There Is One Type of Capitalism.

6 Myth 6: The Dollar's Privileged Place in the World Is Lost.

7 Myth 7: Globalization Destroyed American Industry.

8 Myth 8: U.S. Capitalist Development Prevents Socialism.

9 Myth 9: The Weak U.S. Dollar Boosts Exports and Drives Stock Markets.

10 Myth 10: The Foreign Exchange Market Is Strange and Speculative.

11 Summary and Some Thoughts on the Way Forward.

Bibliography.

Index.