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Where are people going to get the extra $70? You know you're doing a pretty good job of illustrating why centrally-planned economies fail.
But I guess everyone is actually out of things to say about the Frontline program that is the actual topic of the thread? My guess is that a lot of people simply choose to look away rather than confront the facts that these two stories helped to reveal.
Well your correct in at least one thing, the thread was deviating too much from the topic, So I created a new topic. The Average American may be able to afford less than today, be people will at be employed, and make decent wages to afford that $80 shirt. Instead of the minimum wages many business are forcing people to work for.
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Originally Posted by oaktonite
What about my lost foreign markets. You are shutting down all US exports with this Rapunzel approach. Millions of workers will be laid off. Profits will plummet.
That why companies have different subsidiaries, an international division of XYZ company based outside the United States could produce goods and trade with the International community. Some jobs would be lost that relay on exports but I believe the net gain would far outweigh these loses.
The United States economy is large enough that it doesn't have to imports goods, everything can be made domestically.
Quote:
Originally Posted by oaktonite
No it can't. Nobody can, which is why international trade exists to begin with. And the US economy will of course be 14% smaller once you've trashed all the goods and services it produces for export.
The Untied States in 1950's was the main economic powerhouse in the world and did not have to rely on imports to be self-sustaining. This is a fact.
Quote:
Originally Posted by oaktonite
Ah. What you actually want to do then is export western wage and labor standards into exotic economies that haven't joined the club yet. The best way to do that is to encourage the rise of unions. Are you down with that?
What I want is a level playing field for the American People, we can't afford to wait the 50 years or more it takes for the wage level to be equal to American wages. Besides, it's not our responsibility to raise the rest of the worlds economic conditions, especially at the cost of our own economy.
Bad. no large company now days can survive based only on even US sells. Look at GM and Ford now expanding their markets in Asia as it become the largest market for auto in the world. In this recession even the Germans are dependnig most of their exports .
It is? It's Estimated that the NAFTA cost the American Economy 500,000 jobs, most of the them good paying manufacturing jobs. And that's just one example. Some American sectors benefited, like farming, but due to low cost Mexican labor, well paid Americans suffered. I guess we traded those good paying American manufacturing jobs for minimum wage farm picking jobs. Overall the American economy is worse off thanks to NAFTA.
The Untied States in 1950's was the main economic powerhouse in the world
and did not have to rely on imports to be self-sustaining. This is a fact.
So is the carpet bombing and atomic bombs that allowed us to be "the main economic
powerhouse in the world" for just about as long as it took for those other countries to rebuild.
Just like the fertility issues being discussed in another thread...
the post war era and it's effects were an anomaly not a norm.
We're continuing to pay the penalty for both.
Protectionism -- the mistaken idea that "trade follows the flag" was the principal rationale behind tariffs. It was a major factor in bringing to an end a century of relative peace in Europe, and the spawn of a two-act global conflict that killed over one hundred million human beings.
Protectionism -- the mistaken idea that "trade follows the flag" was the principal rationale behind tariffs. It was a major factor in bringing to an end a century of relative peace in Europe, and the spawn of a two-act global conflict that killed over one hundred million human beings.
Need we say more???
So tariffs killed an archduke? Did they also send Germany into economic depression which allowed a radical antisemite to take power, thus launching a massive land grab around Europe?
Look up the Hawley Smoot Tariff Act and see for yourself.
What about it. Economists debate to this day on it's overall impact. Some suggest it had a major negative impact while others suggest it had very little impact other than perhaps slightly exacerbating the already present depression.
No matter what, global trade would have contracted without this particular act. Had this bill not passed, would all those little bank runs had been averted?
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