The global economy isn’t a zero-sum game

July 26, 2013

Don’t tell Stan, but I got bored with Canadian football on TV last night and came across David Leonhardt of the Times on Charlie Rose. He made a comment we should all remember (my rough transcript):  

The global economy is not a zero-sum game. We tend to think of China as a rival, almost like a sports game, and if they’re doing well that means we’re doing badly. That’s not quite right, that’s not how the world economy works. It’s not a zero-sum game.

The video is here on the program titled “President Obama’s Economy Speech.” Leonhardt’s comment comes about 44 minutes in.


One Response to “The global economy isn’t a zero-sum game”

  1. David Backus Says:

    Stan adds: Big mistake… it was great game! Edmonton scored 14 unanswered points in the 4th quarter to take a 1-point lead. They then got pinned down on their own 2-yard line by a long punt, and a play you’ll never see in the NFL. On the punt return, Edmonton challenged the spot of the ball, insisting that the tackle was in the end zone — which on a kick is a rouge, not a safety — which would’ve meant a point for Montreal and a tie game. Can you imagine an NFL coach challenging a call to give the other team points and give up a lead?! The logic is simple: after a rouge Edmonton would’ve kept possession with the ball placed on their own 35-yard line, with plenty of time left on the clock to get into field-goal range. Now it gets even more interesting: On the next series, Edmonton doesn’t get a first down, so they send the punt team on the field. But apparently the punter didn’t get the message from the Edmonton coach who had decided to take a safety rather than punt from his own endzone. That would’ve been 2 points and the lead for Montreal, but Edmonton would keep the ball on their own 35 — same strategy as before. In the confusion, the punter shanks a 25-yard punt, Montreal gets the ball in great field position and kicks a field goal to take the lead. They tacked on another field goal at the end.

    Charlie Rose… hah!

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