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> At the expense of hollowing out domestic industry This doesn’t seem obvious to me. Trade happens because it mutually beneficial. The counter factual to redu
by materielle 1y ago
> At the expense of hollowing out domestic industry
This doesn’t seem obvious to me. Trade happens because it mutually beneficial.
The counter factual to reducing trade isn’t that we would manufacture the equivalent amount of goods here and be just as rich.
It’s that we would be poorer. And certain goods would cease to exist, and all of us would have to learn to live with less because it’s simply infeasible to manufacture everything here.
- huevosabio 1y ago> The counter factual to reducing trade isn’t that we would manufacture the equivalent amount of goods here and be just as rich. > It’s that we would be poorer. And certain goods would cease to exist, and all of us would have to learn to live with less because it’s simply infeasible to manufacture everything here. This should be in billboards all over the US. I don't get what is so hard to understand. Globalization made us all richer and gave us the luxury to pursue new technology. Self-sufficiency points towards subsistence farming.