Tim Pawlenty Fails Basic Economics

But Gets an A in Inconsistency

Earlier The Dismal Political Economist commented on the speech on economics that former Minnesota Governor Tim Pawlenty just gave. 

Tim Pawlenty Cannot Do Basic Math

And after reviewing the speech once again we find he is not really familiar with the fundamentals of Economics.  As he says here

President Obama set a goal of doubling exports. Yet his policies have prevented this. Mine will achieve it. 

Finally, even if we are successful in changing the way Washington taxes, spends and regulates. Many of the gains we’d realize could be lost by the continued debasement of the dollar. As a result of the loose-money policies of the Fed.

A strong dollar undergirds all that we do for economic growth.  Inflation cruelly undermines the life savings and life prospects of every American.  If we want to give taxpayers, retirees, investors, consumers and entrepreneurs a better deal, we have to maintain a strong dollar.  No more quantitative easing.  No more monetizing debt.  No more printing money with reckless abandon

So Mr. Pawlenty wants to double exports and wants to pursue a strong dollar policy.  Uh, Mr. Pawlenty, that sounds great except you obviously do not know that a strong dollar raises the price of exports, making them less competitive in the world economy.  So if your goal is to increase exports you need a weak dollar.  It’s what they teach in Econ 101.

Maybe a little summer school is in order before your next speech on economics.