{"id":463,"date":"2018-10-18T20:30:01","date_gmt":"2018-10-18T20:30:01","guid":{"rendered":"http:\/\/nanum.pixerex.com\/demo-import\/?p=463"},"modified":"2018-10-18T20:30:01","modified_gmt":"2018-10-18T20:30:01","slug":"wordpress-org-vs-wordpress-com-whats-the-difference","status":"publish","type":"post","link":"http:\/\/localhost\/mws\/wordpress-org-vs-wordpress-com-whats-the-difference\/","title":{"rendered":"WordPress.org vs WordPress.com: What\u2019s the Difference?"},"content":{"rendered":"

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience.<\/strong><\/p>\n

Leveraged loans,\u201d extended to junk-rated and highly leveraged companies, are too risky for banks to keep on their books. Banks sell them to loan mutual funds, or they slice-and-dice them into structured Collateralized Loan Obligations (CLOs) and sell them to institutional investors. This way, the banks get the rich fees but slough off the risk to investors, such as asset managers and pension funds.<\/p>\n

Expressing the opposite view is Paul Krugman<\/a>, who writes, \u201cTrade isn\u2019t a zero-sum game: it raises the productivity and wealth of the world economy<\/strong>.\u201d And the corollary also applies as well: any action taken to disrupt the free flow of goods between countries is likely to provoke a counter-reaction, the result being a trade war in which every country loses out
\nThe two \u201csacred tenets,\u201d free trade and comparative advantage, are inextricably linked.<\/p>\n

After all, a \u201ccomparative advantage\u201d begets the question, compared to what? We export goods to other nations when we can do that relatively better than they can and likewise import goods or services that we have a comparative disadvantage in producing.<\/p>\n

So tropical fruit is exported from, say, Mexico or Chile, rather than from Canada. And Australia\u2019s abundance of natural resources explains why it has become a mining superpower. Of course, this classical model of trade and comparative advantage breaks down somewhat in an ultra-globalized world in which capital accounts have been largely liberalized.<\/p>\n

Leveraged loans,\u201d extended to junk-rated and highly leveraged companies, are too risky for banks to keep on their books. Banks sell them to loan mutual funds, or they slice-and-dice them into structured Collateralized Loan Obligations (CLOs) and sell them to institutional investors. This way, the banks get the rich fees but slough off the risk to investors, such as asset managers and pension funds.<\/p>\n

Expressing the opposite view is Paul Krugman, who writes, \u201cTrade isn\u2019t a zero-sum game: it raises the productivity and wealth of the world economy.\u201d And the corollary also applies as well: any action taken to disrupt the free flow of goods between countries is likely to provoke a counter-reaction, the result being a trade war in which every country loses out
\nThe two \u201csacred tenets,\u201d free trade and comparative advantage, are inextricably linked.<\/p>\n

After all, a \u201ccomparative advantage\u201d begets the question, compared to what? We export goods to other nations when we can do that relatively better than they can and likewise import goods or services that we have a comparative disadvantage in producing.<\/p>\n

So tropical fruit is exported from, say, Mexico or Chile, rather than from Canada. And Australia\u2019s abundance of natural resources explains why it has become a mining superpower. Of course, this classical model of trade and comparative advantage breaks down somewhat in an ultra-globalized world in which capital accounts have been largely liberalized.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and…<\/p>\n","protected":false},"author":1,"featured_media":990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[5,6,7],"_links":{"self":[{"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/posts\/463"}],"collection":[{"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/comments?post=463"}],"version-history":[{"count":0,"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/posts\/463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/media\/990"}],"wp:attachment":[{"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/media?parent=463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/categories?post=463"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/localhost\/mws\/wp-json\/wp\/v2\/tags?post=463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}