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> definancialize the economy Not sure what does it mean in the context of the economy in general.
by betaby 2y ago
> definancialize the economy
Not sure what does it mean in the context of the economy in general.
- rayiner 2y agoThe point is to change the incentives to favor building things in the U.S. rather than increasing profits by building things overseas. Consider what high tariffs would do, for example, to Apple. Since Steve Jobs died, Tim Cook has focused on increasing profits by building a hyper-optimized Chinese supply chain. That doesn’t help American workers, and I’d argue in the long run it hurts innovation. But imagine if Apple had to be an exorbitant tariff for every foreign-made iPhone. Had such a policy been in place 20 years ago, we may have dramatically changed the direction the cell phone industry went in the country.
- betaby 2y ago> Tim Cook has focused on increasing profits by building a hyper-optimized Chinese supply chain. That doesn’t help American workers Agree, and that's kind of obvious. > we may have dramatically changed the direction the cell phone industry went in the country Not sure. Even less sure how instantaneous and very tariffs can help with that. Also it's not clear how that less of the financealisation.
- mullingitover 2y ago> That doesn’t help American workers Depends on your definition of 'help,' no kid in school thinks "Gosh I hope I can become a factory laborer when I grow up." Let's be realistic, it doesn't help US geopolitical strategy and doesn't maintain US hegemony. The US doesn't need or want factory workers, it wants citizens who are self-actualized. It might need some factory workers to realize that aim, but human drudgery powering factory production isn't an end in itself. Ideally the US leapfrogs all this and gets to fully automated production before anyone else. People want purpose in life, and being a factory drone is a pretty lousy purpose.
- rayiner 2y ago> Depends on your definition of 'help,' no kid in school thinks "Gosh I hope I can become a factory laborer when I grow up." The revealed preference suggests you're wrong. That's why the messaging of every politician that has resonated with the working class, from Bernie to Obama to Trump, it's focused on bringing back manufacturing jobs. > The US doesn't need or want factory workers, it wants citizens who are self-actualized. You can't be a citizen in a participatory democracy if you're not needed. The cognitive elites that call half the country "deplorables" might choose to give you a dole, but they'll hold it over your head and it'll come with strings attached.
- mullingitover 2y ago> focused on bringing back manufacturing jobs Everyone focuses on bringing them back, because you're correct that it resonates. However, what goes unsaid is that everyone hopes it'll be someone else going to work in those factories. > You can't be a citizen in a participatory democracy if you're not needed. The cognitive elites that call half the country "deplorables" might choose to give you a dole, but they'll hold it over your head and it'll come with strings attached. The 'cognitive elites' never called half the country deplorables. One person called half of Trump supporters that, referring to an undeniably real subset of that voting block that is racist/homophopic/xenophobic. The (Number of Trump Voters) * 0.5 is nowhere near half the country. This is of course a derail from the derail, which is the claim that you can't be a citizen if you're not 'needed.' You can be and are, and 'needed' is a value judgement by the ruling class who can divide and conquer the citizenry by manufacturing mass media telling citizens who is 'needed' and who is not.