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Is Trade-Imbalance Report Greatly Exaggerated?: The U.S. doesn't just export goods that are easy to quantify like wheat or cars. Today's exports include brain power and business models. How do you measure these?

Publication: US Banker
Publication Date: 01-JUL-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
A wonky debate regarding the measurement of exports has spilled into the public domain this year, and has polarized economists into two camps.

The debate spans the spectrum from philosophical ("Just how much is knowledge worth?") to the practical ("What if the U.S. really doesn't have a trade deficit once the proper numbers are being used?"). It's not just a U.S. policy issue. The notions of branding and intellectual property, two elements of today's economy that U.S. marketers have honed for several decades, are key aspects of the issue.

The crux of the debate is whether intangibles like business...

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