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In this post of a few days ago [2] I argued that Americans would be greatly enriched if non-Americans were to become so fond of images of smiling Americans that they – the non-Americans – became eager to give valuable good and services to us in exchange for nothing but photos of our smiling American faces. To which the economist Wilson Mixon replied to me, by e-mail:
Of course, Hollywood does precisely what you say. Well, maybe not quite: the”serious” films show sullen or frowning faces.
DBx: Indeed, Hollywood movies are popular with many foreign audiences: we send them moving pictures of beautiful smiling Americans such as Scarlett Johansson and George Clooney and they – the non-Americans – send us in return lots of valuable goods and services. It’s a win-win (as voluntary trade always is).