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> 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
by 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.