A more effective fiscal policy would involve surpluses when growth is high, and borrowing only to finance public investment.
One involves storing surplus river water in the ground, by flooding it onto "spreading basins" in the desert and allowing it to soak in.
The accounting trick, a favourite of former Liberal governments, involves grabbing surpluses created by EI premiums and using them to cover costs.
Traditionally, the model for feeding the hungry in Africa has involved shipping in surpluses from the rest of the world in times of emergency, but governments that are trying to attract investment say that the new farms could provide a lasting, noncharitable solution.
"There was a huge amount of luck involved in creating this surplus," said June O'Neill, a former director of the Congressional Budget Office, now an economics professor at Baruch College in Manhattan.
The second phase of the story involves their exchanging surplus goods that they have appropriated with one another; rather than saying that such surpluses lapse back into the common heritage, Locke allows individuals to acquire, grow, or make more than they can use so that markets become possible and prosperity general (ibid., II, paras. 46 51).
Cases involving an outright surplus are exceptional.
Stem cell research involving so-called surplus embryos will go on unaffected by the high court's decision.
Previous research has typically involved extracting stem cells from surplus embryos that were created in fertility clinics but never implanted in women.
Since this involved restricting the rights of surplus nations, his plans were circumscribed by Washington, a nice irony now that America is a debtor nation.After the Bretton Woods system collapsed in 1971, trade imbalances ceased to be much of a constraint on the developed world.
