12:25 -- "...and Hamilton famously called Large Public Debt a *National Blessing* ..." -- FYI, check the etymology of the word "Blessing". It alternatively stems from Latin through French, and can *ALSO* mean "a wound", not a boon or a gift of some kind. To give an illustration of the double-talk implied, consider the Old Testament story of Jacob wrestling God, and being struck on his hip and wounded permanently for his trouble.
when companies operate in nations with inequal environmental laws, labour laws, IP laws, different degrees of freedom interact, how is it possible for a business operating in a global scale or a local scale to operate in a level playing field? The definition of 'state' should include foreign states as well. when the chinese state, for instance, engages in predatory behavior through its corporations giving them an unfair advantage and running down/acquiring US corporations, how should the US state should react? by doing nothing? there's a lot of difference between economic theory and what happens in the 'real world'. if the markets truly can be the decider, then you need a global government, well that would mean the end of democracy and sovereignty of nations.
Protectionism has allowed China, Japan, Taiwan and South Korea to turbo charge their economic development. America too developed under protectionism, and has experienced deindustrialization after it abandoned it.
Most people would like to engage in "economic nationalism." Should we trade and invest with those who are more similar to us and for future generations that are like us or should we give our money to dirt world people who free ride off of European inventiveness and further a huge tragedy of the commons? Should we go with automation and nuclear power and trade less with the third world, or should we go with the "economical" option? The nationalist sentiment which will keep the Western nations from being flooded in free riding dirt world people, a sentiment supported by Rothbard, also seems to go along with a higher in group sociality and desire to enforce white norms for white people which results in very significant state control of the economy in modernist public states (as opposed to say monarchy, stock holder republics, etc).
Hamilton was right, Friedrich List in Germany was right, the Chinese are right, the USA were free traders with lips but mercantilistic since 1776. The EU is mercantilist since is was born. So don’t tell me these were/are all idiots.
The US had a manufacturing base that was the envy of the world. Free trade/bad trade deals changed that. Entire industries that were invented here have been wiped out. This is the one area where libertarians and I part company.
Mixing Mercantilism with Protectionism and Economic nationalism and Banking/Investment domination of financial markets and Government direct/indirect subsidies to big business creates a huge amount of confusion and misinterpretation.
This is why I love the Mises Institute, its an island of truth in a sea of stupidity,
Too all the ninnies out there who still think the Mises Institute is a "crypto-fascist" organization, I present you this video.
DiLorenzo is the man.
Pat Buchanan is a pretty acute observer of political things . He is one of the few capable of using his own brain.
12:25 -- "...and Hamilton famously called Large Public Debt a *National Blessing* ..." -- FYI, check the etymology of the word "Blessing". It alternatively stems from Latin through French, and can *ALSO* mean "a wound", not a boon or a gift of some kind.
To give an illustration of the double-talk implied, consider the Old Testament story of Jacob wrestling God, and being struck on his hip and wounded permanently for his trouble.
when companies operate in nations with inequal environmental laws, labour laws, IP laws, different degrees of freedom interact, how is it possible for a business operating in a global scale or a local scale to operate in a level playing field? The definition of 'state' should include foreign states as well. when the chinese state, for instance, engages in predatory behavior through its corporations giving them an unfair advantage and running down/acquiring US corporations, how should the US state should react? by doing nothing? there's a lot of difference between economic theory and what happens in the 'real world'. if the markets truly can be the decider, then you need a global government, well that would mean the end of democracy and sovereignty of nations.
US corporations can fight their own battles.
Protectionism has allowed China, Japan, Taiwan and South Korea to turbo charge their economic development. America too developed under protectionism, and has experienced deindustrialization after it abandoned it.
Most people would like to engage in "economic nationalism." Should we trade and invest with those who are more similar to us and for future generations that are like us or should we give our money to dirt world people who free ride off of European inventiveness and further a huge tragedy of the commons? Should we go with automation and nuclear power and trade less with the third world, or should we go with the "economical" option? The nationalist sentiment which will keep the Western nations from being flooded in free riding dirt world people, a sentiment supported by Rothbard, also seems to go along with a higher in group sociality and desire to enforce white norms for white people which results in very significant state control of the economy in modernist public states (as opposed to say monarchy, stock holder republics, etc).
Hamilton was right, Friedrich List in Germany was right, the Chinese are right, the USA were free traders with lips but mercantilistic since 1776. The EU is mercantilist since is was born. So don’t tell me these were/are all idiots.
The US had a manufacturing base that was the envy of the world. Free trade/bad trade deals changed that. Entire industries that were invented here have been wiped out. This is the one area where libertarians and I part company.
Mixing Mercantilism with Protectionism and Economic nationalism and Banking/Investment domination of financial markets and Government direct/indirect subsidies to big business creates a huge amount of confusion and misinterpretation.
Its also the economic basis of every first world country in the World