impact of the euro on travel costs

Old Aug 24th, 2014, 01:52 PM
  #41  
 
Join Date: Apr 2013
Posts: 19,737
>>Whether or not it is better for tourists visiting is by the by, and a rather selfish pov.
Having opened this can of worms again Robincal hasn't been back to respond.
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Old Aug 24th, 2014, 01:56 PM
  #42  
 
Join Date: Feb 2003
Posts: 9,238
sandralist

Thank you for your response, I found it like the others very interesting.

I certainly do not propose we decide a theory is right because of who said it, but I think we can decide that in general, an economist with or without a Nobel Prize would know more than I do. That is all I meant.

Skepticism is always appropriate when evaluating theories. However, that applies for Krugman's OR businessweek's OR Mundell's speculation on what Greece would look like after a return to the drachma. As TG pointed out, the proof would be in the pudding - i.e. were Greece to actually return to the drachma.
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Old Aug 24th, 2014, 02:13 PM
  #43  
 
Join Date: Feb 2003
Posts: 9,238
" it does appear that are seldom any benefits to revaluing one's currency upwards. "

Chartley, as I understand it, and I concede I might not, those parties that are part of the consumption economy would like the USD to remain strong, so that Americans will continue to consume the foreign-produced goods that those parties import and sell. So the importers benefit from a strong USD.

Also, so long as the US was a net importer of oil/energy, a strong US dollar helped those industries dependent on oil. That too was a benefit. Now that the US is less dependent on foreign energy, that benefit may disappear.

The cost of many domestic goods has drastically fallen grace a the import of Chinese-made goods. Therefore for at least some people some of the time, a strong USD reduces, not just the cost of foreign travel (which many can't afford even with a strong USD) but also their cost of living. That's a benefit, although the dilemma is whether they would have to shop at Walmarts in the first place if the employment picture were better in the US.

I'll stop there as I'm already in over my head.
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