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re: Milton Friedman quotes on protective tariffs
Posted on 8/19/23 at 11:54 am to HailHailtoMichigan!
Posted on 8/19/23 at 11:54 am to HailHailtoMichigan!
I love Friedman and agree with 99.9% of what he says, but how do we sustain a domestic manufacturing base if we’re competing with third world manufacturers that pay their workers a couple dollars a day?
1
Posted on 8/19/23 at 11:57 am to TROLA
Friedman was free-market, laissez-faire without any restraints. Not always a good thing in today's economy, whereby sanctions and political pressure needs to sometimes be applied
Posted on 8/19/23 at 11:57 am to SlowFlowPro
quote:
You don't try to fix government failure by adding more government.
It takes the Gov to undo what the Gov did.
Gov put in regulations. How do you get rid of them? By replacing the people in Gov with those who want them removed too.
quote:
Free trade types want less socialism (reducing welfare and redistributive policies)
Free Trade expanded it at a massive rate. It created it.
Benjamin Franklin felt the same way but relied more on his personal experience. He said, “In my youth, I traveled much, and I observed in different countries, that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer.”
We created that via free trade. We killed massive amounts of jobs. We killed mom and pop stores in most areas. ETC...
Posted on 8/19/23 at 11:58 am to Jjdoc
quote:
It takes the Gov to undo what the Gov did.
You cannot undo it.
its a global economy, you cannot isolate your economy in todays world.
Posted on 8/19/23 at 12:03 pm to Auburn1968
quote:That’s pretty much all government employees in a nutshell.
Watched an NYC pothole filling road crew one day a while back. The pothole was about 3' in size. Three trucks came with a crew of 7. One guy spent an hour filling the whole and one of the crew pretended to sweep some things in the area.
Posted on 8/19/23 at 12:06 pm to RogerTheShrubber
quote:
You cannot undo it.
Trump removed a crap ton of regulations.
quote:
its a global economy, you cannot isolate your economy in todays world.
Nobody stated isolation. It's not either or.
Posted on 8/19/23 at 12:08 pm to HailHailtoMichigan!
Milton Friedman is the man and if he saw what China and other countries were doing to us on trade he would have a different opinion on tariffs.
Posted on 8/19/23 at 12:25 pm to bhtigerfan
quote:
but how do we sustain a domestic manufacturing base if we’re competing with third world manufacturers that pay their workers a couple dollars a day?
We do. We are #1 or 2 in manufacturing in the world, currently.
We manufacture more advanced goods that require added skill/training.
Posted on 8/19/23 at 12:26 pm to HailHailtoMichigan!
Milton Friedman has been proven wrong.
Posted on 8/19/23 at 12:27 pm to Jjdoc
quote:
It takes the Gov to undo what the Gov did.
By removing the interventionist policies, not adding more redistribution and socialism
quote:
Gov put in regulations. How do you get rid of them?
Remove them.
quote:
By replacing the people in Gov with those who want them removed too.
That's not Trump. He's pro-regulation.
Posted on 8/19/23 at 12:28 pm to Raz
quote:
Milton Friedman is the man and if he saw what China and other countries were doing to us
He did. He's addressing their manipulation. China hasn't changed
Posted on 8/19/23 at 12:29 pm to Hobnailboot
quote:
Milton Friedman has been proven wrong.
By whom?
Posted on 8/19/23 at 12:31 pm to SlowFlowPro
quote:Really? I honestly didn’t know this.
We do. We are #1 or 2 in manufacturing in the world, currently.
We manufacture more advanced goods that require added skill/training.
Well then why the hell are we totally dependent on China for so many consumer products, medical equipment, drugs and OTC meds?
Why don’t we have any semi-conductor manufacturers in the US?
Once, I’m not being a smartass, I’m just asking.
Seems like everything in stores are foreign made.
This post was edited on 8/19/23 at 12:32 pm
Posted on 8/19/23 at 12:33 pm to Y.A. Tittle
quote:
is that we are subsidizing (via government, of course) huge swaths of our population to do essentially nothing,
That's a separate problem that isn't directly related...
quote:
while we have offshored all the un-evolved menial jobs such people used to do in the name of “free trade.”
...because there is a YUGE demand for skilled labor in the US, even with exporting these jobs AND the mass illegal immigration from Central America.
Plenty of those jobs are available and these people can be trained for them. They refuse.
quote:
I don’t think any of Friedman’s theories took that into account or the overall societal damage such a massive shift might create.
He was making this very same argument into the 90s, long after the welfare state and its issues had emerged.
Thomas Sowell has maintained the same arguments into today.
Posted on 8/19/23 at 12:35 pm to SlowFlowPro
quote:
Top 5 U.S. Exports As the second-largest exporter in the world—outranked only by China—total U.S. exports for 2022 climbed to $3.0 trillion for the first time, according to Census Bureau data. According to the data available through October 2022, the following are the United States’ top exports:
1. Gasoline and Other Fuels
2. Crude Petroleum
3. Liquified Natural Gas (LNG) and Other Natural Gases
4. Civilian Aircraft Parts
5. Passenger Vehicles
This post was edited on 8/19/23 at 12:36 pm
Posted on 8/19/23 at 12:36 pm to SlowFlowPro
quote:
By removing the interventionist policies, not adding more redistribution and socialism
I get your need to twist things into a "selling point" by labeling it Socialism, but the truth is you are simply ignorant or lying.
According to your "Selling point", the USA prior to the FDR admin was a socialist nation.
You are full of shite.
quote:
quote:
By replacing the people in Gov with those who want them removed too.
That's not Trump. He's pro-regulation.
Again... you are lying.
LINK
Trump also removed well over 100 environmental regs... etc etc.
Posted on 8/19/23 at 12:39 pm to bhtigerfan
quote:
Well then why the hell are we totally dependent on China for so many consumer products, medical equipment, drugs and OTC meds?
Even if we completely devolved our economy (and standard of living, etc.), we probably still don't have the workforce to manufacture all of that for the world like developing countries (like China) are.
quote:
Why don’t we have any semi-conductor manufacturers in the US?
That isn't dominated by China, unless you're a big "Taiwan isn't a country" guy
Taiwan, who, ironically is the ideal example of "sweatshop to abundance", created that niche role over decades. These jobs are not the lower level manufacturing jobs that people claim China is stealing.
Even with billions in socialist subsidies to lure elite chip manufacturing here, they're having problems filling the jobs. More than half of these jobs could go unfilled over the next decade.
Posted on 8/19/23 at 12:41 pm to Jjdoc
quote:
I get your need to twist things into a "selling point" by labeling it Socialism,
Socialism is socialism.
quote:
According to your "Selling point", the USA prior to the FDR admin was a socialist nation.
I am talking about the US today. Nobody cares about this attempt to divert the conversation into unrelated subjects.
quote:
Again... you are lying.
Does he want tariffs? Tarrifs are regulations.
Posted on 8/19/23 at 1:33 pm to HailHailtoMichigan!
quote:
What would China do with the dollars she received for her exports? Take crisp greenbacks back to Beijing to stash in the vaults of the Bank of China? Let deposits at U.S. banks pile up?
Buy our politicians, institutions, and real estate.
Milton Friedman changed my life and taught me much. He never anticipated how corrupt our populace could be.
Posted on 8/19/23 at 1:43 pm to SlowFlowPro
quote:
You don't try to fix government failure by adding more government. Free trade types want less socialism (reducing welfare and redistributive policies)
Well you’re failing miserably at it.
Perhaps if you focused your efforts on reducing or eliminating the welfare state the trade issue would fix itself? But taking such a stance wouldn’t be edgy on message board where your shtick is to be a contrarian, so I guess that’s not going to happen.
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