Hooverism: Protectionism on the Rise

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Indeed, Luther

And no one seems to consider that a nation without a manufacturing base is a militarily weak nation---whether it "knows" or not.

Muser of NM @ Feb 07, 2009 10:06:19 AM

Instead of mindless ideology, analyze what the opposite of protectionism, consumerism, has done for us.

Made us thrall to China for production while we are transformed into a nation of malls and low tech service and information jobs. We have become poorer and poorer shipping jobs, technology, money, and manufacturing to China until we have reached an equilibrium point where we are in too much debt to take on any more credit and China stagnates unable to squeeze any more blood out of the US turnip. Consumers will in general favor goods at low prices, which means goods made by Chinese labor; so consumerism is at the expense of the US worker and business, while protectionism favors workers and businesses at the expense of the consumer. Since most Americans are both consumers and workers, what does it serve a man to save on consumer goods if he loses his job or business?

As far as retaliation for protectionism, we can't compete with China anyway because of our high labor costs and have enormous trade deficits without protectionism. I don't know if there is any answer to competing with low wage labor, but protecting major manufacturing sectors like autos and airplanes might be advisable. If you lose manufacturing, you lose R&D also.

Luther of IL @ Jan 29, 2009 23:19:51 PM