2 ms·
Amazing how little substance this opinion article has on either side of the argument. "Government bad bcs misallocation of resources", meanwhile the reason why
by boh 6y ago
Amazing how little substance this opinion article has on either side of the argument. "Government bad bcs misallocation of resources", meanwhile the reason why the US doesn't have much of the industry they themselves developed is because market forces love short-term solutions (so outsourcing everything and depending on foreign firms for key tech is the better resource allocation strategy apparently). Without government backing, there is no chip industry in the US (or not much of it anyway). It doesn't really matter how WSJ feels about it.
- missedthecue 6y agoComparitive advantage isn't "short termism"
- boh 6y agoEcon 101 will only get you so far. Reductionist models attempt to reflect the real world but the real world rarely reflects reductionist models. Comparative advantage for who? The US? The industry? The human race? Or the value of a legal entity for a short period of time when a reduction in costs gets them a bump in share value as the company gets hollowed out from the inside out. I don't know who decided to make mid-century Economics into an ideology, but we should try to evolve at this point.