dagblog - Comments for ""The thing about tariffs is - they do the trick" : Keynes, April 17, 1933"

Flavious, did you reedit this

Resistance — Wed, 02 Feb 2011 11:35:24 +0000

In reply to Thanks for the comment on

Flavious, did you reedit this blog, after I gave the book title. Because I can no longer find the original abstract?

If you did You must have had some key words I cut and pasted onto google search

Mu barak Obama needs to read

Resistance — Wed, 02 Feb 2011 06:32:53 +0000

In reply to Great case for tariffs. Here

Mu barak Obama needs to read this. Weren’t all of these issues raised in the SOTU?

Where is Barack Obama, on this issue?

Lets form an alliance with the Tea Party, on this issue.

It would be a win/win for all.

We’d probably break the back of the Clinton Democrats

Excerpts from The Report on Manufactures

“Hamilton reasoned that bounties (subsidies) to industry, which would rely on funds raised by moderate tariffs, would be the best means of growing manufacturing without decreasing supply or increasing prices of goods. Such encouragement through direct support would make American enterprise competitive and independent along with the nation as a whole. In part subsidies would be used to:

Was this in the …… SOTU?…..

encourage the spirit of enterprise, innovation, and invention within the nation

Was this in the …… SOTU?….

support the building of roads and canals to encourage internal trade; ……… High speed rail, the internet

grow the infant United States into a manufacturing power independent of control by foreign powers through reliance on their goods for domestic and especially defense supplies.

The tariff

raise revenue to pay the expenses of government; ………

Was this in the …… SOTU?………No cuts in S.S. Financing for medicare

"These policies would not only promote the growth of manufacturing but provide diversified employment opportunities and promote immigration into the young United States. They would also expand the applications

of technology and science for all quarters of the economy, including agriculture." ……

Weren’t all of these issues raised in the SOTU? Will this not solve our deficit problem too?

Hamilton said it would

No, I believe I scrolled to

Resistance — Wed, 02 Feb 2011 06:30:53 +0000

In reply to Thanks. Going back to your

No, I believe I scrolled to page 513 after I googled the lnk

When I put the link on this post, it extended across the page to latest comments.

Are current free trade ideas

kgb999 — Wed, 02 Feb 2011 03:59:34 +0000

In reply to Great case for tariffs. Here

Are current free trade ideas and policies effectively undeclaring our independence?

I think they are ... pretty much by definition. Isn't the whole idea to foster economic interdependence (for better or worse)?

But the "independence" aspect might be sort of missing the forest for the trees (it should play really well in several right-leaning crowds, however ... so as rhetoric goes, it's a great arrow to have in the quiver! Thanks). Fact is, what we have been doing clearly isn't working. To me, that renders all the ancillary arguments for or against the ideas and policies kind of moot. If it obviously isn't working, why are we even considering sticking with it - let alone expanding it?

And though I know it doesn't really pertain to your point, it is worth noting that "free trade" and "free market" are not synonymous as far as ideas go.

Great case for tariffs. Here

EmmaZahn — Tue, 01 Feb 2011 15:55:45 +0000

In reply to "The thing about tariffs is - they do the trick" : Keynes, April 17, 1933

Great case for tariffs. Here is something to add to it in case you don't already have it.

Alexander Hamilton in his Report on Manufactures argued that the U.S. could not become fully independent until it was self-sufficient in all necessary economic products.[1]
Hamilton reasoned that to secure American independence, the United States needed to have a sound policy of encouraging the growth of manufacturing and secure its future as a permanent feature of the economic system of the nation.[2]

Are current free trade ideas and policies effectively undeclaring our independence?

[1] http://en.wikipedia.org/wiki/American_School_(economics)

[2] http://en.wikipedia.org/wiki/Report_on_Manufactures

A close shave, indeed.

moat — Tue, 01 Feb 2011 02:28:10 +0000

In reply to Keynes made his remarks when

A close shave, indeed. Imagine the chaos on our hands if the Feds had all that money now. Things may be rough but we have been spared that calamity.

Your reminder of Greenspan's logic suggests to me that the monetary wrangling going on now is the equivalent of employing tariffs to level prices.

Keynes made his remarks when

Flavius — Tue, 01 Feb 2011 01:29:08 +0000

In reply to Keynes made his remarks when

Keynes made his remarks when the U.S. debt was not financed by a whole array of foreign investors who would purée our capital if we closed our market to them.

Very likely you're right altho very likely we could locate experts anxious to vigorously defend the opposing position. .

My aim was/is to suggest what we ought to do rather than what we can. Seemed useful given that it's only nine years since Greenspan vigorously defended the proposed Bush tax cuts to forestall the impending market distortion when the Treasury parked the dread fiscal surplus in corporate securities .

Whew , that was a narrow escape!.

Keynes made his remarks when

moat — Tue, 01 Feb 2011 00:23:14 +0000

In reply to "The thing about tariffs is - they do the trick" : Keynes, April 17, 1933

Keynes made his remarks when the U.S. debt was not financed by a whole array of foreign investors who would purée our capital if we closed our market to them.

A price control scheme would certainly encourage local production but would also make everything more expensive very quickly. It would piss off a lot less people if we developed more demand for what is made here.

If we cannot compete in a certain market, investment in unmet demand is the only way to rollover available cash to new enterprises.

Here is the originating

Verified Atheist — Mon, 31 Jan 2011 20:37:24 +0000

In reply to Obey as far as I know coined

Here is the originating comment, in context.

Obey as far as I know coined

Resistance — Mon, 31 Jan 2011 20:32:03 +0000

In reply to Thanks. Going back to your

Obey as far as I know coined the term, and it was good one