Donald J. Boudreaux is a Professor of Economics at George Mason University and an Adjunct Scholar at the Cato Institute. At a Cato Hill Briefing on March 24, 2011, he argued that the U.S. trade deficit is less of a problem than many people might believe. He said that trade deficits are prime indicators of foreign investment in a country, which will inevitably lead to wage and standard of living increases.