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To: CutePuppy; November 2010
They didn't lose competitive advantage because of "open" market philosophy...

Freedom doesn't make a nation less competitive, it allows people to create wealth.  Ben Franklin said it well: "no nation was ever destroyed by trade."   So many thanks to all for a rousing interchange.  I know I've learned a lot about sharing information and I hope y'all are better off too.

56 posted on 11/18/2010 4:13:33 AM PST by expat_panama
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To: expat_panama

Freedom doesn’t make a nation less competitive. But being forced to pay taxes for a military is compulsion (and necessary). We have to deal with the world as it is. GATT and so forth have reduced tariffs. Other nations have pegged their currencies to the dollar in a way that enhanced their competitiveness, put in place non-tariff barriers to entry, negotiated trade advantages, etc.

My view is that trade is analogous to military security in that nations are both competitive and cooperative based on their interests at the time. It’s a dangerous area to play with the status quo, because trade wars during economic downturns can be very ugly. If we began to protect our own manufacturers more we’d have to be very careful about implementing it. The current trade regime has been set up over the course of many decades. Modifying it will be the same if done right.

Off the top of my head, in order of importance, we would need to get our internal fiscal policy in order, put in a Freidman like monetary regime with monetary growth targets and preferably no Fed, end all immigration, lower and simplify tax rates and begin to negotiate general tariffs designed to raise revenue (and thus lower income tax and corporate tax rates — if we could eliminate corporate tax rates completely with it we’d get a double effect — corps would have more money to grow with plus some protection from foreign manufacture as they grew inside our borders).


57 posted on 11/18/2010 4:38:25 AM PST by November 2010
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