[Alberta's Child]

One of my criticisms of the whole "protectionist" argument from a historical perspective is that they ignore the changing realities tied to changing economic circumstances.

It's much easier for a nation to have protectionist trade practices when it is doing business with other wealthier countries (as was the case for much of the early history of the U.S.). Having a somewhat lower standard of living than your trading partners makes it easier to be cost-competitive for products and services that can be obtained elsewhere.

That whole scenario falls apart in today's world, however. Because the U.S. pretty much has the highest standard of living among the major nations of the world, there's really nothing we can do to develop and maintain a competitive export-based economy. What exactly does the U.S. produce that can be sold competitively overseas these days?

[Paladin2]

"What exactly does the U.S. produce that can be sold competitively overseas these days? "

Koran burning videos?

[rmlew]

That whole scenario falls apart in today's world, however. Because the U.S. pretty much has the highest standard of living among the major nations of the world, there's really nothing we can do to develop and maintain a competitive export-based economy. What exactly does the U.S. produce that can be sold competitively overseas these days?
Germany and Japan have positive trade balances despite having more expensive pay scales for labor than the US.