Hacker News new | ask | show | jobs
by lordCarbonFiber 3759 days ago
Just on the off chance you're not just trolling and actually believe what you're saying about tariffs. There's a strong reason why the only people arguing for them are populist candidates without any economical backing. I'd suggesting reading on the history, and effects of the Smoot Hawley Tariff in the 1930s.

The general accepted wisdom is you don't want your economy regressing back to being built on low skill manufacturing jobs. Nor do you want your trading partners to inact retaliatory tariffs. Im sure the Americans buying the 10 dollar shirts will tend to be more upset at price increase. https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Ac...

1 comments

Politics isn't economics. Economists want efficient markets, and government exiats to protect the general welfare of the people.