Quote:
Originally Posted by ChinoCoug
hahaaha! this is the best thing you've said the entire thread. you're almost right, cross-country regressions have their weaknesses. but asymmetric information is a micro issue, and macro is still 900% more valid than your theological, process philosophy, textual criticism garbage.
what does the virtue of trade deficits have to do with Obama again?
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asymmetric information is a contract concept, where the usual example is that of the used car salesmen. We dumb lawyers discuss that and other concepts whether it's economically feasible to induce breach, so what's your point. Some guys I think name Stiglitz and Spencer or something developed some theories in this area.