Ricardo Hausmann
speaker
306 appearances
1 recordings
1 series
first heard Jun 2025
last heard Jun 2025
Ricardo Hausmann’s voice in public audio — every appearance, attributed to the second.
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Appearances
And that means that a lot of the of the accounting of how this process happens is not well captured by our standard accounting techniques.
For example,
If Japan does R and D
And that improves the productivity of their foreign investment.
It doesn't show up as higher Japanese productivity.
It is increasing productivity, but not just not in Japan, in the places where Japan has its its plants.
And the same is happening in the US.
If you think of the magnificent seven,
The magnificence and for example Google when Google sort of like displaces all the all the small uh newspapers of the world because all advertising revenue is moving to it's moving online.
And Google is capturing a good chunk of that.
It that doesn't count as a US export.
because it's some subsidiary that Google put in in I don't know in South Africa or wherever that is collecting that revenue.
And that revenue you could count it as a US export.
But it's not being counted as a US export.
Exactly.
It turns into the US into US market cap.
But US market cap is very poorly captured by balance of payment statistics.
So for example
If you start in the year two thousand.
From two thousand to the present, according to official statistics, the US borrowed sixteen trillion dollars from the rest of the world.
Showing 241–260 of 306 · page 13 of 16
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