indexer: notabug.io
all comments

[] -0 points

The classical economists who first formulated the comparative value theory of trade were right. Tariffs only serve to reduce the quality of available transactions. So even if one group is restricting trade, there is still a benefit to be had in trading freely with them.

However, there is a meta-game to be considered that economists do not address(at least I haven't seen it). In the game of all games, it makes sense to do things that are immediately disadvantageous for the sake of future games. China has been mucking with trade for decades. It has been hurting everyone. If we can suffer for a little while in order to achieve the long term goal of free trade, then the short term choice of tariffs is reasonable.

I think of it much like the game theory pattern of mutually assured destruction. Nuclear war hasn't happened precisely because if one side pulls the trigger, they believe that the other side will do the same. If China thinks it can get away with tariffs, it may be willing to do so. If instead the US restricts trade as well, then China may give up their economic attacks.

I can't predict what will happen, but I do think there is theoretical justification for this course of action.

[]Selene -0 points

[] -0 points

"By preferring the support of domestic to that of foreign industry, he intends only his own security ; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain; and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention."

http://www.online-literature.com/adam_smith/wealth_nations/24/

[]Selene -0 points

Imagine if there was a way to avoid monopolies in a country hundreds of times the size of great britian.

[] -1 points

nationalinterest.org

Dimitri Kostantinovich Simes (Russian: Дмитрий Константинович Симис; born October 29, 1947) is president and CEO of The Center for the National Interest and publisher of its foreign policy bi-monthly magazine, The National Interest. Simes was selected to lead the Center in 1994 by former President Richard Nixon, to whom he served as an informal foreign policy advisor and with whom he traveled regularly to Russia and other former Soviet states as well as Western and Central Europe.

https://en.wikipedia.org/wiki/Dimitri_Simes

While investigating Maria Butina for illegal foreign agent activities, the U.S. Federal Bureau of Investigation reportedly explored her ties to Russian-American political expert and Center for the National Interest president Dimitri Simes, who has co-hosted a talk show on Russian state television since 2018. Two sources who know Simes told the online project Otkrytye Media (Open Media) that FBI agents previously questioned them about Simes’s connections to Butina. After Butina’s arrest in July 2018, federal agents reportedly visited the Center for the National Interest in Washington, D.C.

https://meduza.io/en/news/2019/03/07/in-connection-with-maria-butina-fbi-agents-reportedly-questioned-people-close-to-dmitri-simes-the-president-of-the-center-for-the-national-interest

[] -0 points

Even Trump's critics often say he's right on this.

[]Selene -1 points

Reading stuff like this puts me in mind of a snobby liberal expousing our need to provide wellfare while talking on his phone made from slave labor in china.

[]Gangster -0 points

What's the connection between welfare and phone factories?

[]Selene -0 points

Insisting that it's my responsibility to prevent people from the worst life has to offer while ignoring that responsibility themselves.

[] -0 points

China is a capitalist country

[] -0 points

To be fair, the American popular press has basically zero clue what words like that mean

[]Selene -0 points

State Capitalism, the final evolution of communism.

π