Another great post! Only part I could quibble with is that it's possible China is doing a better job of industrial policy and that's going to lead to certain innovations that cause us to fall behind because of their supply chain, worker, and better investment strategy advantages. But hopefully are better private capital markets more than make up the difference. Curious your thoughts?
This idea to reindustrialize aka the late 1800s America or become like China' last three decades is missing some background. China and the US emerged into industry with large amounts of people willing to work cheap. With CA paying $20/hr to flip burgers it's hard to see us going that route sans an utter total economic collapse. That and automation will keep hiring low.
It's easy to criticize tariffs and re-industrialization when you run zero risk of having your job outsourced to China, Bangladesh, Vietnam, etc.. Such is the case with Ms. Schrager.
Another great post! Only part I could quibble with is that it's possible China is doing a better job of industrial policy and that's going to lead to certain innovations that cause us to fall behind because of their supply chain, worker, and better investment strategy advantages. But hopefully are better private capital markets more than make up the difference. Curious your thoughts?
This idea to reindustrialize aka the late 1800s America or become like China' last three decades is missing some background. China and the US emerged into industry with large amounts of people willing to work cheap. With CA paying $20/hr to flip burgers it's hard to see us going that route sans an utter total economic collapse. That and automation will keep hiring low.
It's easy to criticize tariffs and re-industrialization when you run zero risk of having your job outsourced to China, Bangladesh, Vietnam, etc.. Such is the case with Ms. Schrager.
So you think Trump's tariffs are the best way to re-industrialize then?