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Old 03-04-2018, 01:31 PM
 
Location: Denver, CO
8,347 posts, read 1,912,726 times
Reputation: 1661

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...as a result of the artificial barrier erected against foreign goods, American labor, capital and land are deflected from what they can do more efficiently to what they do less efficiently. Therefore, as a result of the tariff, the average productivity of American labor and capital is reduced.

-Henry Hazlitt, Economics in One Lesson https://mises.org/wire/who%E2%80%99s-protected-tariffs

It is important to realize that what those benefited by these measures (tariffs) consider an advantage for themselves lasts only for a limited time. In the long run the privilege accorded to a definite class of producers loses its power to create specific gains.

-Ludwig von Mises, Human Action Mises on how the “boon” of a tariff privilege is soon dissipated (1949) - Online Library of Liberty

Slavery is a violation, by law, of liberty. The protective tariff is a violation, by law, of property.

-Frédéric Bastiat, The Law The Law, by Frederic Bastiat

Protectionism is simply a plea that consumers, as well as general prosperity, be hurt so as to confer permanent special privilege upon groups of inefficient producers, at the expense of competent firms and of consumers. But it is a peculiarly destructive kind of bailout, because it permanently shackles trade under the cloak of patriotism.

-Murray N. Rothbard https://mises.org/wire/how-look-tariffs-1

Talk about import restrictions or complaints about "outsourcing" today proceed with the same mindless disregard of what other nations are doing and will do. People who throw around statistics about how many American jobs have been outsourced don't even mention how many Americans have jobs that have been outsourced from other countries, much less how many Americans will lose those jobs if we start a new round of international trade restrictions.

-Thomas Sowell vindy.com | THOMAS SOWELL Tariffs didn't work then, won't work now

Tariff policy beneficiaries are always seen, but its victims are mostly unseen. Politicians love this. The reason is simple. The beneficiaries know for whom to cast their ballots and to whom to give campaign contributions. Most often, the victims do not know whom to blame for their calamity.

-Walter Williams https://www.investors.com/politics/c...-with-tariffs/
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Old 03-04-2018, 01:36 PM
 
7,039 posts, read 2,507,199 times
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Not sure this is the right spot for this comment, but just an aside, the last time we had a tariff on steel, studies indicated that it cost the loss of more jobs overall than the entire number of persons employed in steel production.

I don’t see the Keynesian socialism in tariffs as much as sheer stupidity.

http://www.tradepartnership.com/pdf_...02jobstudy.pdf

https://www.theatlantic.com/politics...uences/554690/

Last edited by Bureaucat; 03-04-2018 at 01:51 PM..
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Old 03-04-2018, 01:39 PM
 
22,769 posts, read 26,198,481 times
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Keynesian economics is not socialist, and tariffs are neither Keynesian nor socialist.

HTH
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Old 03-04-2018, 01:46 PM
 
3,570 posts, read 3,062,883 times
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Economics is a philosophy, not a science. There are no "laws" of economics as there are in physics.


I said it before but repeat for those who don't get it: the original "free trade" ideas were thought out by Adam Smith and David Hume. They assumed that trade would be kept in balance by the exchange of gold (Hume's "price specie flow mechanism").


In 1971, "tricky" Dick Nixon abolished the convertibility of US dollars into gold by foreign central banks. Thereafter, the US trade deficit exploded.
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Old 03-04-2018, 01:47 PM
 
Location: Colorado Springs
4,361 posts, read 1,807,172 times
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Tariffs are socialism hahahha.
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Old 03-04-2018, 02:01 PM
 
Location: Denver, CO
8,347 posts, read 1,912,726 times
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Quote:
Originally Posted by le roi View Post
Keynesian economics is not socialist, and tariffs are neither Keynesian nor socialist.

HTH
https://newrepublic.com/article/1043...-great-britain
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Old 03-04-2018, 02:03 PM
 
Location: Denver, CO
8,347 posts, read 1,912,726 times
Reputation: 1661
Quote:
Originally Posted by Wells5 View Post
Economics is a philosophy, not a science. There are no "laws" of economics as there are in physics.


I said it before but repeat for those who don't get it: the original "free trade" ideas were thought out by Adam Smith and David Hume. They assumed that trade would be kept in balance by the exchange of gold (Hume's "price specie flow mechanism").


In 1971, "tricky" Dick Nixon abolished the convertibility of US dollars into gold by foreign central banks. Thereafter, the US trade deficit exploded.
I agree. Especially about Nixon. He put a bullet into the head of the Dollar.
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Old 03-04-2018, 02:04 PM
 
Location: Denver, CO
8,347 posts, read 1,912,726 times
Reputation: 1661
Quote:
Originally Posted by BornintheSprings View Post
Tariffs are socialism hahahha.
It's State management/control of the individual's right to trade with whomever he wishes without interference. It may not be absolute State control of the means of production, but it's barely one step away.
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Old 03-04-2018, 02:15 PM
 
22,769 posts, read 26,198,481 times
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Quote:
Originally Posted by rebeldor View Post
1 article =/= keynesian economics

keynes, for the most part, was opposed to tariffs. keynesian economics is about liquidity traps and counter-cyclical stimulus.

all that nonsense at mises.org and investors business daily will rot your brain, it's political ideology masquerading as economics.
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Old 03-04-2018, 02:21 PM
 
78,749 posts, read 33,503,872 times
Reputation: 15774
Quote:
Originally Posted by le roi View Post
Keynesian economics is not socialist, and tariffs are neither Keynesian nor socialist.

HTH
Tariff's are a form of Socialism. Those who disparage Socialist programs in general sure love and defend them when they see themselves as benefitting from them. From bail outs to tariff's, say they are not Socialist but they are most certainly not Capitalist.
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