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Just to elaborate, it wasn’t a central policy at all. It was companies competing for cheaper costs.
by nonethewiser 3y ago
Just to elaborate, it wasn’t a central policy at all. It was companies competing for cheaper costs.
- jjoonathan 3y agoPlenty of countries have used tariffs to successfully develop and protect key industries. Including... the USA! https://www.gilderlehrman.org/history-resources/spotlight-primary-source/hamilton%E2%80%99s-report-subject-manufactures-1791#:~:text=Through%20high%20tariffs%20designed%20to,hold%20on%20the%20United%20States https://www.gilderlehrman.org/history-resources/spotlight-pr.... The choice to get rid of these policies was made by people who fully understood that doing so would pump assets and dump exports, and that the ability to benefit from the asset pump would be concentrated while the fallout from the dumping of exports would be widespread.
- themaninthedark 3y agoThey fully understood what they were doing, just like Jack Welsh did. I am glad we have reversed direction and hope that it is not too late.