this post was submitted on 26 Nov 2024
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Hilarious how tarriffs are a few against imports and we as a people pay those. The exporting country sees nothing and the importing companies have to pass on the cost. So weird how a giant set of Americans don't realize that it will raise the cost of almost everything.
I mean, the idea is, that the tarriffed stuff becomes less attractive compared to the non-tarriffed stuff due to the higher price, so less people will buy it and instead the nationally produced alternatives thus strengthening the national economy and and weakening the tarriffed ones.
Of course that can only work with stuff that has nationally produced (or at least non-tarriffed) alternatives.
Exactly, the whole point of tariffs is to protect domestic industry. However, if that industry doesn't exist then what's being protected?
Almost always, the US companies given monopoly/cartel protection by tariffs, boost prices more than production. The emperor could make a deal next week, so long term investments are sketchy.
If Aliens showed up to earth to trade cheap stuff and energy from their star trek replicators, I'm pretty sure the US oligarchs would ensure a rulership that goes to war with, or at least install prohibitive tariffs on, the Aliens instead, to protect their profits. China offers a similar role.
We could have full employment if we just get rid of wires and pipes that go to homes. Hire people to go get you firewood and water from the river, and throw your waste into the street. This does result in a subsaharan economy, and cannibalism, but everyone is structurally guaranteed work.
If instead you import from China/Aliens, you are rich in stuff. Still plenty of work available in construction and selling stuff, and UBI is a path to keep the "country" rich, primarily in being a desirable place to live in freedom.
Even in the unlikely event of US reindustrializing to become an uncompetitive economic island to rest of the world, it would result in a relatively declining standard of living, and no exports, compared to those trading with the Aliens.