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That's fair, but it can be done in ways drastically different from the Jones Act. The Jones Act fails in large part because it is so indirect. If you instead
by dmoy 2y ago
That's fair, but it can be done in ways drastically different from the Jones Act. The Jones Act fails in large part because it is so indirect. If you instead e.g. buy surplus production (like say we do for farming today), it tends to not totally kill off the industry.
If the Jones Act had worked it would have looked genius because it didn't require spending money by the government. It didn't work though.
- jburbank 2y agoHas there ever been something like the Jones act, that has worked? In any western democracy? Honest question. I wonder if the nature of international commerce and large nation domestic policy is too complex and chaotic.
- freeone3000 2y agoThe US Army keeps the M1 Abrams line spun up despite a lack of losses to ensure that when losses do happen, it can be replaced. So far the only effective method has been to purchase a fixed amount of the final desired product regardless of actual demand.
- maxwell 2y agoSmoot-Hawley and the Buy American Act, which protected/enabled the Arsenal of Democracy to win the Second World War. Europe's Common Agricultural Policy. Voluntary Export Restraints. Steel and aluminum tariffs. Tech/IP restrictions from the U.S./EU on communist Chinese firms.
- collinmcnulty 2y agoSmoot-Hawley was passed while America was a net exporter of industrial products and hurt American manufacturers. I don't see any way to skew it as having helped win WW2.
- maxwell 2y agoIt decoupled us from foreign markets.
- dmoy 2y agoHonestly dunno if anyone does anything similar to the Jones Act. Certainly not in shipping (though a lot of countries require domestic flagging, not built). Outside of shipping idk what the analogous situation would be