So...brexit |
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Jul 2 2016, 10:51 AM
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Britain's leaving the EU has a lot in common with what we see in the US, a movement toward isolationism, putting up walls, protectionism. The key factor with Britain and the EU is not immigration, that was just a propaganda selling point. The key factor is the end of Britain's participation in a treaty that established free markets. There is nothing new under the sun, this song has been sung before, and it never ends well. Protectionism just makes everything worse for several logical reasons, and degenerates into global "beggar they neighbor" policies. In fact, this was the precipitant for the deep slide and sustained depression after the famous 1929 crash. I found a good short explanation for why protectionism invariably fails, just makes things worse. The author a professor at Princeton, he holds a chair. Basically I just wanted a quick refresher myself, but I thought I would share it. http://www.econlib.org/library/Enc/FreeTrade.html |
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Jul 2 2016, 06:25 PM
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Bingo
 I had the same exact thought. It's not just us though, this trend is Global. Folks are trending towards the nationalistic and isolationistic point of view currently as a result of (imho) continued downward pressure on wages and export of good paying jobs. The frustration and anger and job losses are quite real. The results are what we are seeing now. That's my analysis anyway Great article BTW. I hope folks on the other side of the issue will actually take time to read it as it spells out pretty everything wrong with the decision to leave (Sadly it's written by an "Expert" and folks don't seem to trust them, and he's an "Academic/Elite" which further undermines his cred in the eyes of many folks which is kinda sad). I support freedom, etc. But I also support rational approaches to economic growth and isolationism isn't one of them  Slogans and talking points do not make for good economic policy imho Here is a GREAT qoute from the article for folks who might skip it. " To think that we can forestall the inevitable by closing our borders is to participate in a cruel self-deception." Todd QUOTE (fkalich @ Jul 2 2016, 05:51 AM)  Britain's leaving the EU has a lot in common with what we see in the US, a movement toward isolationism, putting up walls, protectionism. The key factor with Britain and the EU is not immigration, that was just a propaganda selling point. The key factor is the end of Britain's participation in a treaty that established free markets.
There is nothing new under the sun, this song has been sung before, and it never ends well. Protectionism just makes everything worse for several logical reasons, and degenerates into global "beggar they neighbor" policies. In fact, this was the precipitant for the deep slide and sustained depression after the famous 1929 crash. I found a good short explanation for why protectionism invariably fails, just makes things worse. The author a professor at Princeton, he holds a chair. Basically I just wanted a quick refresher myself, but I thought I would share it. http://www.econlib.org/library/Enc/FreeTrade.html This post has been edited by Todd Simpson: Jul 2 2016, 06:32 PM |
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Jul 3 2016, 06:49 AM
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So you didn't read the article either then?
QUOTE (jstcrsn @ Jul 2 2016, 10:45 PM) Maybe because it is the "elites" and "experts" that have screwed everything up BTW I really found the article to be very thought provoking and full of factual, objective, analysis and information. I really do hope that folks take the time to read it and understand a bit more about the wheels of commerce. I hope you don't mind but I shared it on my facebook page. I credited you as the source but didn't use a name, just "Music Student" Todd QUOTE (fkalich @ Jul 2 2016, 05:51 AM) Britain's leaving the EU has a lot in common with what we see in the US, a movement toward isolationism, putting up walls, protectionism. The key factor with Britain and the EU is not immigration, that was just a propaganda selling point. The key factor is the end of Britain's participation in a treaty that established free markets.
There is nothing new under the sun, this song has been sung before, and it never ends well. Protectionism just makes everything worse for several logical reasons, and degenerates into global "beggar they neighbor" policies. In fact, this was the precipitant for the deep slide and sustained depression after the famous 1929 crash. I found a good short explanation for why protectionism invariably fails, just makes things worse. The author a professor at Princeton, he holds a chair. Basically I just wanted a quick refresher myself, but I thought I would share it. http://www.econlib.org/library/Enc/FreeTrade.html This post has been edited by Todd Simpson: Jul 3 2016, 06:50 AM |
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Jul 3 2016, 10:07 AM
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