davidcz on Nostr: The problem with the US economy is that it it highly specialised. Strong, but very ...
The problem with the US economy is that it it highly specialised. Strong, but very focused on the tech sector when it comes to actual growth (look at the mag 7).
This would be fine, if we found a real way to distribute that wealth to the whole society, but socialism has it's obvious problems like we all know.
Centralizing prosperity to some narrow industries is really devastating if your skills and passions don't align with that sector. Compare the hollowed out rust belt industrial base to silicon valley.
Tarifs can create a balance here when applied carefully. Impacting prices for sure, but in the end, who really benefits that you can buy a $30 microwave from China, if it also comes with hating your neighbor and civil unrest ⚖️
This would be fine, if we found a real way to distribute that wealth to the whole society, but socialism has it's obvious problems like we all know.
Centralizing prosperity to some narrow industries is really devastating if your skills and passions don't align with that sector. Compare the hollowed out rust belt industrial base to silicon valley.
Tarifs can create a balance here when applied carefully. Impacting prices for sure, but in the end, who really benefits that you can buy a $30 microwave from China, if it also comes with hating your neighbor and civil unrest ⚖️