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0 sats \ 0 replies \ @028559d218 10 Apr \ on: Tariffs, Trade Deficits, and the Missteps of Austrian Orthodoxy econ
In summary... 2 very different schools of thought.
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The 'free market' school: government intervention is bad, every action has an opposite reaction, and there is no 'cheap and easy' 'trick' to prosperity. Productivity, technology, and the increase in wages is almost always tied to better goods and services. Either you offer the 'best good' (or service) for the 'lowest price'... or you get left behind this is the eventual outcome of almost any market given enough time.
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The Trump/Tariff school: government intervention is good. There is a 'free lunch' through currency manipulation, government deals, and coercive bargains... and "manufacturing" IE getting other countries to "buy your goods" no matter what is the end goal. Subsidize the "working class" and promise them jobs & security... because their support at the end of the day and their goods and manufacturing should be the # 1 priority of government. Their support is everything.