8 ms·
> By now it’s well known that Trump desperately wants to proof his professor wrong By now it it's well known that globalization is for a fantasy world that doe
by tivert 2y ago
> By now it’s well known that Trump desperately wants to proof his professor wrong
By now it it's well known that globalization is for a fantasy world that doesn't exist, and people should stop listening so much to economics professors. Trade barriers need to go up to re-orient things. Unfortunately, Trump is unlikely to do it competently.
- spiderfarmer 2y agoYou guys tried everything but the things other countries that do well are doing. But hey, let’s try to stop globalization as a single country.
- janalsncm 2y agoA 10% tariff on China won’t stop globalization. Even an 100% tariff wouldn’t. American goods aren’t 10% more expensive, a lot of them are 10x more expensive. Look for American made kitchen knives. You will be lucky to spend less than $2k on a block of Made in USA knives. Meanwhile you can get a pretty good set made in China for under $200. If you wanted American companies to compete, you would need a 10x tariff to make that $200 knife set cost $2000.
- binary132 2y agoit’s almost as though the cost-of-living and cost-of-making differential is something that’s bad for Americans. Well, at least we got some cheap knives or whatever.
- spiderfarmer 2y agoTariffs will only increase the cost of living, with loads of unforeseen consequences.
- janalsncm 2y agoThe US has spent the last 35 structuring its economy under neoliberalism. Some people (rust belt) are worse off. Some are much better off, especially since they didn’t have to compensate the people who whose jobs were sold overseas for pennies on the dollar.