August 17, 2010 4:21PM 

# Prominent Economists Debate Trade Deficits 

By [Sallie James](https://www.cato.org/people/sallie-james) 

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Following [Dan’s](https://www.cato.org/2010/08/12/more-nonsense-about-the-trade-deficit/) and [David’s](https://www.cato.org/2010/08/12/explaining-mr-market/) recent posts on the trade deficit and its (ir)relevance, allow me to draw readers’ attention to the *Economist’s* “By Invitation” blog, where invited prominent economists debate topical economic issues.

One of their current questions is: [Should governments take any steps to boost exports?](http://www.economist.com/economics/by-invitation/questions/should_governments_take_any_steps_boost_exports) That’s an important topic, and an especially timely one given the Obama administration’s ‘National Export Initiative,’ a five-year plan to double U.S. exports. All of us here at Cato’s trade center have previously expressed [skepticism](https://www.cato.org/pub_display.php?pub_id=11578) about the [feasiblity](https://www.cato.org/2010/01/28/obamas-sotu-export-promise-bold-and-unrealistic/) and/​or [wisdom](https://www.cato.org/2010/07/29/the-half-a-loaf-national-export-initiative/) of that plan, and Dan Ikenson blogged earlier today about the [administration’s apparent incoherence in pursuit of that goal](https://www.cato.org/2010/08/17/mexican-retaliation-for-u-s-truck-ban-is-proper/).

*The Economist*’s debate talks about industrial policy and export promotion in the abstract, rather than the NEI *per se,* but I recommend checking it out. Scott Sumner and Laurence Kotlikoff make especially good sense.

##### Related Tags 

[Trade Policy](https://www.cato.org/trade-policy), [Herbert A. Stiefel Center for Trade Policy Studies](https://www.cato.org/herbert-stiefel-center-trade-policy-studies) 

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