2 ms·
Economic protectionism has been an integral part of U.S. policy since the 1850s or so. Politicians were pretty big on tariffs and land law acts for nearly a cen
by vezzy-fnord 11y ago
Economic protectionism has been an integral part of U.S. policy since the 1850s or so. Politicians were pretty big on tariffs and land law acts for nearly a century, though they have since declined in favor of gunboat diplomacy.
- crdoconnor 11y agoIt's also how every single one of the Asian tigers built themselves up from 3rd world countries to 1st world countries. There's a reason why Thailand and South Korea started off in the same place and South Korea developed. That reason will profoundly irritate anybody who pledges allegiance to the holy altar of free markets, though.
- fsloth 11y agoThis this this. Freemarket aficionados often conveniently forget that for e.g. South Korea the basis for it's current economic status was forged by strict government controls and not just by "letting markets do it". The point is, there is very little value in evaluating economic strategies just through textbook orthodoxy.