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>When a govt imposes trade tarriffs, it's effectively taxing it's own citizens The Econ 101 way to look at it. In the real world, it also promotes domestic pro
by miguelazo 4y ago
>When a govt imposes trade tarriffs, it's effectively taxing it's own citizens
The Econ 101 way to look at it. In the real world, it also promotes domestic production, creating jobs and often helping "nascent industries", and in many cases ultimately leading to even lower prices over the long term as domestic industry matures. This is how basically every advanced economy industrialized. See the work of South Korean economist, Ha-Joon Chang.
https://www.goodreads.com/book/show/1032019.Bad_Samaritans https://www.goodreads.com/book/show/1032019.Bad_Samaritans
>people want to use the platforms they enjoy using, because they're all free anyway
Agree with the first part, but one's attention is hardly "free". It is, in fact, the ultimate opportunity cost when squandered on these services.