Re:The lessons from America’s astonishing economic record
by WalterBright on Sunday April 16, 2023 @11:42PM
(#35596631)
And yet the same people say that protectionism is good for the economy.
Re:The lessons from America’s astonishing economic record
by ulucs on Monday April 17, 2023 @03:52AM
(#35597876)
But protectionism is often good and necessary for a country's economy. If country A cannot produce a good x, then another country B can stifle A's technology growth for producing x by selling x outright at a cost A can not produce the good at (yet). If you ban the import/restrict of x from country B, you will have to pay some fixed costs to get the production of x up to speed; but you will end up with cheaper unit costs in the end. The catch is, you can not ban all imports outright because importing the technology to produce x will probably save you years on R&D and related costs. Like everything in economics, doing things are good and bad at the same time.
Re:The lessons from America’s astonishing economic record
by dopidopHN on Monday April 17, 2023 @12:57PM
(#35603449)
Protectionism takes many form and is controlled by the country doing it.
For instance subsidies for US EV véhicules in 2023 is protectionism and will probably benefit US company.
The US do that a lot for a free market proponent.
As opposed to sanction where it’s something that is imposed to you.
No country with a strong economy got there by being forcibly isolated from the world.