3 ms·
How do you build that comparative advantage though? You think Japan or South Korea didn't have protectionist policies until they figured out how to produce such
by throw_pm23 2y ago
How do you build that comparative advantage though? You think Japan or South Korea didn't have protectionist policies until they figured out how to produce such things competitively?
- Joker_vD 2y agoPrecisely. The theory of comparative advantage literally says "you can't finance e.g. industrialization by the market means, it's strictly and highly unprofitable, no entrepreneur in their right mind would (or even could) do this", yet somehow people routinely tout it as a decisive argument for laissez-faire. And Japan's history of the state support for its automotive industry is quite something.