World stocks rise on yen devaluation

Here’s something for fans of the Keynes/Krugman “beggar-thy-neighbor” model to think about:

NEW YORK (AP) — U.S. stock futures are rising, following world markets higher after the central bank of Japan moved to weaken the yen.

Japanese stocks jumped 1.5 percent after the Bank of Japan moved to push the yen down, a move that will help big Japanese exporters like Toyota.

Japan’s central bank cut its key interest rate to virtually zero and is looking to buy government bonds in an effort to boost the faltering Japanese economy.

The most important concept in economics:  It’s not a zero-sum game.