3 ms·
> Do prosperity and autonomy lie in letting your industries wither and die, or get taken over by foreign countries? At macro scale and longitudinally, the answ
by wahern 4y ago
> Do prosperity and autonomy lie in letting your industries wither and die, or get taken over by foreign countries?
At macro scale and longitudinally, the answer seems to be, "yes", at least regarding prosperity. Regarding autonomy, which country do you think enjoys more autonomy, the U.S. or North Korea? The latter enforces Juche as state ideology (i.e. self-reliance almost as a religion).
But what can be said generally about national economies (especially large, developed economies) doesn't necessarily apply to specific industries.
- AinderS 4y ago> which country do you think enjoys more autonomy, the U.S. or North Korea? The US practiced plenty of protectionism to nurture its economy. And looking beyond the global exception of North Korea for a moment, China, Taiwan, Japan, and South Korea, and indeed every advanced economy, did the same. Of course protectionism and self-reliance can be taken to a harmful extreme, but so can the opposite. Yet economists only warn about one, not both.