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I got some lessons in that religion in the early 00s, and think it's still gospel in a lot of circles (I certainly know a few vigorous proponents). Is there a

• barrkel 9y ago
  Mercantilism still doesn't work, but like most bad things in capitalism, the corrections can take so long they may not be worth the pain they cause. The idea is that we take advantage of China's willingness to make stuff for us (west) cheaply while they grow their exports, then when they try to raise prices, we switch away. The risk is the switching costs are expensive.