Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Well, we can't count on the entire rest of the world having all their factories bombed and being the only nation with reasonable manufacturing capability all the time.


The US was not an export-focused economy in the 50s and 60s. In fact trade as a percent of GDP bottomed out in those decades. Arguing that the prosperity for the average person was only "sustainable" in an environment where there wasn't foreign competition is an argument for tariffs.

https://www.stlouisfed.org/on-the-economy/2020/march/evoluti...


In what way would the citizens of the US have been worse off had the rest of the world had reasonable manufacturing capability? I'd have thought that either it'd be the same, or better, because same production + trade.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: