Wednesday, August 30, 2006

The Next Reality Show: Nation Trading

Here's an interesting idea.

I have a suggestion to help... solve global [financial] imbalances — population swapping (if successful it would also make a great reality TV show).

Consider this — the average European saves 11.5% of their income. But the average American saves nothing. So, if we replaced 106 million Europeans with Americans, the US household saving rate would rise to 4%. And the European saving rate would drop to 7.5%. Suddenly, we have a European consumer boom, a sustainable US saving rate and a significant reduction in global imbalances...

But I doubt that even [Chancellor of the Exchequer Gordon] Brown would take this suggestion seriously — to start, where are we going to find 106 million Americans who have their own passports? |Whiskey and Gunpowder|

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