To paraphrase John Stuart Mill, we trade products for products, the surplus of our labor for the surplus of others.

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Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products.

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It has to provide a greater than before consumer surplus to get the consumer to purchase the new products (or those things made by the new method of production).

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And, technology and innovation, the work of our most talented people, underpin the U.S. standard of living: technology-based products and services create a big export surplus and enable the strong productivity growth of the U.S. economy.

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