if you're going to seek a goal, you have to fix the problem and unless you can properly identify it, you're probably going to fail.
this is why i think the current focus of US trade policy is ill advised and is likely putting the cart before the horse and working on the wrong issues.
the real problem for US industry has not been foreign action, it's been US domestic policy.
and that's where we need to start.
this is why i think the current focus of US trade policy is ill advised and is likely putting the cart before the horse and working on the wrong issues.
the real problem for US industry has not been foreign action, it's been US domestic policy.
and that's where we need to start.
US industrial output grew around 3.5% a year from the 1940's to 2008.
then it stopped dead like a bird hitting a plate glass window. we have not grown for 16 years since.
this was not tariffs and foreign action, it was domestic policy (especially the EPA) that dramatically altered the internal US comparative advantage away from industry. the policies started under BO did this.
perversely, this likely means that the drives to specialize in accordance with this comparative advantage would, under full and free global trade, lead to more offshoring of US industry unless we first remove the roadblocks to making it relatively attractive as compared to other uses of capital and resources in the US.
and so i think we need to be thinking about this differently.
more on the stack.
boriquagato.substack.com/p/the-enemy-of…
then it stopped dead like a bird hitting a plate glass window. we have not grown for 16 years since.
this was not tariffs and foreign action, it was domestic policy (especially the EPA) that dramatically altered the internal US comparative advantage away from industry. the policies started under BO did this.
perversely, this likely means that the drives to specialize in accordance with this comparative advantage would, under full and free global trade, lead to more offshoring of US industry unless we first remove the roadblocks to making it relatively attractive as compared to other uses of capital and resources in the US.
and so i think we need to be thinking about this differently.
more on the stack.
boriquagato.substack.com/p/the-enemy-of…
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