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Explain why the u.s. went from running very large surpluses

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Discussion Question 1 of 2: 
Go to the Philadelphia Federal Reserve Bank site and read Economist George Alessandria's article "Trade Deficits Aren't as Bad as You Think" (Alessandria, 2007). Using the data in the article, explain why the U.S. went from running very large surpluses following World War II to running extremely large deficits Why does Alessandria think that trade deficits may not be a bad thing? Do you think he makes a compelling argument? Why or why not? What arguments could he be overlooking that support reducing trade deficits or running a trade surplus?

Reference no: EM13713900

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