Re:The lessons from America’s astonishing economic record
by awesome_dude on Sunday April 16, 2023 @09:41PM
(#35595940)
One other thing that should be noted about the Japanese "miracle" is the fact that, at a crucial point in time, their manufacturing got a huge cash shot from the USA, due to a need for vehicles for the Korean War.
Re:The lessons from America’s astonishing economic record
by WalterBright on Sunday April 16, 2023 @09:56PM
(#35596030)
The USA has given huge cash shots to many countries, and no miracle resulted. Afghanistan, for a recent example. All that foreign aid money, which does not produce any visible results.
Re:The lessons from America’s astonishing economic record
by arethuza on Monday April 17, 2023 @07:12AM
(#35599163)
All that money probably had very visible results in places like Dubai?
Re:The lessons from America’s astonishing economic record
by WalterBright on Sunday April 16, 2023 @09:52PM
(#35596007)
> suffered from decades of economic sanctions
Protecting an economy is the same thing as economic sanctions. You can't claim that one results in prosperity while the other explains economic malaise.
> which it does not
It certainly does. It wasn't a perfect free market, though, as nothing human is perfect. But it was close enough to do the job.
BTW, I wrote that it was a free market.
Re:The lessons from America’s astonishing economic record
by awesome_dude on Sunday April 16, 2023 @09:56PM
(#35596031)
>> suffered from decades of economic sanctions
> Protecting an economy is the same thing as economic sanctions. You can't claim that one results in prosperity while the other explains economic malaise.
Uh, no.
Hard no.
> BTW, I wrote that it was a free market.
Yes, I realised it after I posted, but did not care to update what other people can see for themselves.
Re:The lessons from America’s astonishing economic record
by WalterBright on Sunday April 16, 2023 @10:06PM
(#35596101)
Embargo - hitting the other guy's foot with a hammer
Protectionism - hitting your own foot with a hammer
The point I was making was that the person I was replying to was claiming that Japan's economic prosperity was due to it have a "free market" which it does not (unless you count socialism for the companies as "freedom").