PPI - Radically Pragmatic
  • Donate
Skip to content
  • Home
  • About
    • About Us
    • Locations
    • Careers
  • People
  • Projects
  • Our Work
  • Events
  • Donate

Our Work

Moving Beyond the Balance-Sheet Economy

  • June 29, 2017
  • Michael Mandel
Download PDF

In 2016 the United States exported to Europe US$598bn worth of goods and services, and imported $698bn of goods and services. Minus some statistical discrepancies, European countries recorded the inverse flow of imports and exports.

For the past century, economists and policymakers have relied on this ‘balancesheet approach to economics to guide their decisions. One country’s exports are reported as another country’s imports. One company’s production shows up elsewhere in the economy as consumption, or investment, or inventories. The output of the world is the sum of the outputs of the individual countries.

The balance-sheet approach to the economy is well-suited to the physical world. Go back 100 years, and the economies of industrialized countries were composed of physical objects that we could easily count: millions of cases of canned American corn; millions of hectolitres of French wine; millions of metric tonnes of German coal; thousands of long tonnes of British steel ingots. These were tangible and real economic outputs.



Related Work

Op-Ed  |  January 16, 2026

Weinstein Jr. for Real Clear Markets: Stablecoin Rewards and Their Quiet Threat to Community Banking

  • Paul Weinstein Jr.
Publication  |  January 14, 2026

Building Trust Through Transparency: A New Federal Framework for Autonomous Vehicle Safety

  • Andrew Fung Alex Kilander Aidan Shannon
Press Release  |  January 13, 2026

Proposed Credit Card Rate Cap Risks Cutting Off Millions of Borrowers

  • Andrew Fung Alex Kilander Paul Weinstein Jr.
Press Release  |  December 11, 2025

New PPI Report Uncovers Billions in Hidden Costs from Federal Debit Fee Cap

  • Robert J. Shapiro Jerome Davis
Publication  |  December 11, 2025

The Unanticipated Costs and Consequences of Federal Reserve Regulation of Debit Card Interchange Fees

  • Robert J. Shapiro Jerome Davis
Blog  |  November 20, 2025

Stablecoins Could Hurt Local Economies. Voters Agree.

  • Paul Weinstein Jr.
  • Never miss an update:

  • Subscribe to our newsletter
PPI Logo
  • Twitter
  • LinkedIn
  • Facebook
  • Donate
  • Careers
  • © 2026 Progressive Policy Institute. All Rights Reserved.
  • |
  • Privacy Policy
  • |
  • Privacy Settings