“In the end, investments and innovations in technology drive increased productivity, higher earnings, generate new products and industries, and provide consumers with lower costs and more choices. Similarly, trade expands opportunities for U.S. businesses and workers, and again benefits the consumer.”
This will not happen if the inventors and the investors do not believe they can keep or control their gains, as with the heavy tax and regulation we have been experiencing with a power grubbing, power hungry, bureaucratic monster that has been created.
And then in the writer’s last line, he gives the solution, but does not attribute these remedies to Trump’s future administrative mandates.
“Are there problems in the U.S. economy? Of course. Over the past eight-plus years in particular, anti-growth policies in the areas of taxes, regulations, government spending and debt, and monetary policy, along with the U.S. retreating from global leadership in advancing free trade, have inflicted real harm. Such measures have raised costs, created uncertainty and diminished incentives for entrepreneurship and investment. Correct such wrongheaded policies, however, and U.S. entrepreneurs, workers and consumers can continue to reap the enormous benefits from TNT, that is, tech and trade.”
BS. Those jobs didn’t become obsolete. They just moved. I’ve seen our plants in Vietnam. They don’t build low tech. They build high tech and employ what they need to employ. Better that here than there.
Most free trade philosophy garbage is just propaganda.
Softbank, which announced a couple of weeks ago, that they were going to invest $50 billion in the US, based on their beliefs of what Trump would do, just delivered their first $1 billion in investment.
The whole problem with current trade is that we are importing goods and exporting cash. That is, our politicians really do believe we can get something for nothing.
Eventually, this trade imbalance will catch up with us when our trading partners realize that they are getting nothing in return (cash alone is worthless; its value is only as a proxy for goods and services).
In addition, much of the trade these days is for items we used to make ourselves. When companies leave the US for lower taxes and cheap labor, most of the jobs lost in the US are not being replaced. Unlike during the industrial revolution, when small farmers were able to move to the cities and get manufacturing jobs, there are no replacements for manufacturing jobs.
Bump
Bump
War is Peace.
Freedom is Slavery.
Ignorance is Strength.
Global Warming causes frigid weather.
Loss of industrial jobs means industry is improving.
Obviously, steel production is a dying industry going the way of the buggy whip.
In 1980, the United states had about 95% of the worlds computer and display manufacturing market share, now it's about 2%, so I guess computers are a dying going the way of the bugs whip also.
There is a new line out there that says that Trump cannot bring those jobs back because they are all manned by robots. I had an acquaintance tell me that. I asked him then why can’t Ford and Carrier stay here with their robots. Robots have been used in assembly lines for decades by auto makers, but production still requires people.
Apparently Ray Keating assumes all manufacturing jobs have been loss to technological advances, however, that is far from the truth. For it has been more than just jobs lost, it has been entire manufacturing plants that have disappeared. along with the jobs. That has nothing to do with technological advances.
Total blather
And why is so much of the most advanced manufacturing technologies like clean-room pharmaceutical manufacturing and computer chips and advanced display screens made in those other countries?
When there is so much money to be made by using $3 a day labor in polluted factories in other countries and importing those goods freely into the United States, there will be much propaganda published to maintain their profitable arrangements.