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Re:It’s Time to Repeal the Jones Act by hn_throwaway_99 on Wednesday October 19, 2022 @12:21PM (#33264419)
This is just opinion spewing.

That said, the comment you are replying to didn't provide any sources, but if you google, for example, "china outsourcing effect on middle class", it's easy to find research supporting the conclusion that outsourcing had a real negative effect on large swaths of Americans.

Also, as a counterpoint, lots of other countries that have had a more robust middle class in the past 2 decades have stricter regulations than the US does.

Re:It’s Time to Repeal the Jones Act by Aunche on Wednesday October 19, 2022 @12:53PM (#33264843)
> if you google, for example, "china outsourcing effect on middle class", it's easy to find research supporting the conclusion

If your topic is broad enough, you can abuse napkin math any way you want to reach any sort of conclusion.

Virtually all instances of protectionism has caused the industry being protected to stagnate. If Intel weren't facing competition from TSMC and Samsung, they would happily milk their 14mm process for who knows how long.

The only time when protectionism is a unequivocally a good thing is with services with no obvious societal benefit. I don't think China loses out from not having Instagram or Facebook. Even if their domestic alternatives are worse, they aren't missing out on much. Likewise, I don't think we'd lose out much if everyone was forced to use Youtube Shorts instead of TikTok.

Re:It’s Time to Repeal the Jones Act by ghastmaster on Wednesday October 19, 2022 @01:04PM (#33264986)
If entity A can create something(labor/product) cheaper (more efficiently) than entity B, then B can purchase that something for cheaper than what it would cost B to do/produce it. Now B has extra resources to devote to what B is efficient at creating and A purchases products that B is efficient at producing at less than what it would cost A. The net result is each entity has spent less time and resources for goods and services, and can use the savings (capital) to devote to future endeavors.

This basic idea scales up to the country level provided all the rules and regulations do not interfere. The problem with the shrinking status of the lower classes in the USA is not division of labor throughout the world. The imbalance of worldwide division of labor is primarily a symptom of disastrous monetary policy by the Federal Reserve bank and Congress and ill conceived regulations.

Re:It’s Time to Repeal the Jones Act by surement on Wednesday October 19, 2022 @02:16PM (#33265924)
unfortunate that you're getting downvoted for explaining comparative advantage; none of these "we could face unfair competition from other countries" comments seem to understand this basic concept
Re:It’s Time to Repeal the Jones Act by ghastmaster on Wednesday October 19, 2022 @03:12PM (#33266599)
To be fair, I did tarnish the simple explanation with an opinion on why the lower classes are worse off. I knew the risk I was taking when I added that.