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To: Jim 0216
Trade wars are stupid and useless. Everybody shooting themselves in the foot, thinking and/or trying to make it look like they’re shooting the other guy.

Trump’s a smart businessmen but a lot of smart businessmen do not necessarily understand economics.

What's more damning, perhaps, is economists who don't understand business, or the real world...yet are regarded as authoritative. Then there are those who mindlessly parrot the economic 'scriptures.'. Yet they too do not understand the real world, or the principles involved.

They would know, for example, the difference between tariffs as a permanent policy, versus a temporary tactic. They would understand the difference between what they perceive as a 'trade war' and a trade beating. They might also understand that consumers don't necessarily pay for tariffs.

They don't understand that in the real world, physical relationships are simple; people relationships are complex. Cause and effect is not straightforward.

They don't understand that knowing the answers is relatively simple. What's much tougher is understanding the questions.

They would know that in theory, there's no difference between theory and practice...but in practice, there is. That's why planned economies don't work.

140 posted on 08/25/2019 8:13:17 AM PDT by gogeo (The left prides themselves on being tolerant, but they can't even be civil.)
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To: gogeo

You seem to equate “planned economies” with the subject of economics and those who have a reasonable grasp of economics.

Although many, probably most, economists are Leftist Keynesian, that doesn’t negate or exclude the reality of Free Market Economics, which is the successful use of the laws of economics, nor does it make tariffs anything more than what it is - a palliative, not a curative, measure, fooling a lot of people and makes them feel good because tariffs appear to be doing something about the underlying problems but in actuality don’t.

Many try to make the free market more mysterious than it already is - unknown and unknowable. Those people don’t really know what they are talking about IMO. The free market is simply the voluntary cooperation between buyers and sellers in the openly competitive market free from government interference. The free market creates wealth, not just for the direct participants but via John Adam’s “invisible hand” creates wealth in the aggregate.

Secondly, U.S. tariffs is a tax on goods sold in the U.S. How is that not U.S. consumers not paying for U.S. tariffs?


141 posted on 08/25/2019 9:19:51 AM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ and our Free Constitutional Republic!)
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