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We no longer produce many things in this country because they can be produced more cost-effectively overseas and imported.

This is not necessarily a problem.

In 1800 90% of our population was employed producing food. Today it’s <1%. Is this a problem?

In 1800 the wholesale price of a tonne of wheat, adjusted for inflation, was close to $1000 (which is why small inefficient family farms were viable, by the standards of the day). Today it’s near $20. Is this a problem? Would we be wealthier today if most people still worked producing food? Or does the less expensive food allow people to spend their greatly increased income on other goods and services, thereby providing others with entirely new, and realistically much more gratifying, types of employment?

The same applies to manufacturing. It went overseas because it could be produced for less there. If it had been restricted from doing so, the total wealth of our society would be much lower, and the total number of people employed in manufacturing would still have dropped precipitously. Manufacturers would have just invested more in labor saving equipment, productivity would have increased, and the number of workers would have dropped, although those remaining on the payroll would have been better compensated.

As long as the present worldwide system of trade continues in effect, we should continue to be good to go. There have been numerous claims that the US (and world) economy is about to collapse. I’ve been reading them since the 70s. Their historical accuracy rate is right up there with those predicting imminent environmental collapse.

If predicted long enough, will somebody probably be right eventually? Sure, but reimposition of draconian trade restrictions is perhaps the best of all possible ways to cause a world economic collapse.

With so much manufacturing overseas, will we be in a pickle in the event of a major war? You bet, but then so will all our potential enemies, although perhaps in different ways. No country is an island today.

I’m always amazed by the number of “conservatives” who seem to believe that the free market should stop at the water’s edge, that US citizens should be prohibited from doing business with someone if they live in Mexico or India.