Iceman
Rookie
- Nov 4, 2013
- 2,227
- 131
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- Banned
- #401
You dumb twat, no shit they existed. The point is they were all either bombed to hell from WW2 or still third world countries(China, South Korea and India weren't even emerging economies at the time). So high taxes and high regulation in a globalized society with free trade and multiple competing economic powers just wont work, business will go elsewhere.[
They wouldn't work in today's world. In the 50s, there was no China, no Japan, no India, no South Korea, No Russia, no Germany, and by extension no EU to compete with as they were all leveled during World War Two(and thus rebuilding) or still third world economies. America had no competitors, so it could afford to make itself uncompetitive and feel no adverse effects. That simply wouldn't be the case in a globalized economy.
Um, guess what, I checked a 1950 map, and all those countries were on it. Except Russia was called the USSR back then. ANd there were two Germanies. But other than that, all those countries were on the map.
The problem with a globalized economy is that we let people who don't play by the rules play.
We need to dump "Free Trade" and institute "Fair Trade". If you are being more competitive by killing your own people, we aren't going to trade with you.
It seems kind of sensible, really.
It is true, you could institute tariffs to protect industry(which I agree with in certain cases), but you have to provide incentive for industry to remain in your country in the first place.