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Tuesday, December 27, 2016

RE KRUGMAN TARIFFS A BAD IDEA

Just a short history lesson shows you how misguided this view still is.
 
The US would never have even been allowed to develop an industrial base here, were it not for tariff and import restriction protection.
 
Of course, economists don't even agree with that, arguing that it was not really necessary for us to ever develop industries in the first place here when, without them, we could get manufactured goods cheaper shipped in from abroad.

That's about as far as Jefferson got, too, although he did think a cottage industry, like using his slaves, on his plantation, to manufacture nails, was a great idea.

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