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There are no economic textbooks that talk positively about
Posted on: July 22, 2019 at 10:31:15 CT
ummmm MU
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tariffs. In fact, it's one of the few things that economists unite on across all economic schools of thought, including those that will support minimum wages.
That's how bad tariffs are from a textbook economics standpoint.
You guys can spin your wheels all day trying to rationalize them. But the use of tariffs (an economically disliked tool) to accomplish a secondary goal such as protection of IP rights is no different than the use of minimum wages (an economically disliked tool) aimed at secondary goals of stimulating demand and/or elevating people to living wages and freeing them up to spend their money elsewhere.
Bottom line: you can support tariffs, but in doing so, you should never accuse someone else of not understanding economics 101. That makes you a textbook hypocrite.
That's how bad tariffs are from a textbook economics standpoint.
You guys can spin your wheels all day trying to rationalize them. But the use of tariffs (an economically disliked tool) to accomplish a secondary goal such as protection of IP rights is no different than the use of minimum wages (an economically disliked tool) aimed at secondary goals of stimulating demand and/or elevating people to living wages and freeing them up to spend their money elsewhere.
Bottom line: you can support tariffs, but in doing so, you should never accuse someone else of not understanding economics 101. That makes you a textbook hypocrite.
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There are no economic textbooks that talk positively about - ummmm MU - 7/22 10:31:15