Craig, from another one of your links posted.
if tariffs lead to great depressions, how come we didn't suffer great depressions in the century leading up to world war one when much of that time we were far more protectionist than in the 20's?
By trade I am a process engineer with a background in physics. Like most of my ilk we traditionally regard Economists, Social Scientists, Psychologists, etc, as just another bunch of quacks who don't know what they are talking about -g- Actually I have found new interest in all these topics, especially economics, and have many favorable things to say about the significant contributors.
But us physicists have taken up this Economics thing. There is one Economist who us process engineers revere. Pareto.
economics.unimelb.edu.au
Pareto's first work, Cours d'economie politique (1896-97), included his famous 'law' of income distribution, a complicated mathematical formulation in which he attempted to prove that the distribution of incomes and wealth in society is not random and that a consistent pattern appears throughout history, in all parts of the world and in all societies.
(actually the law is real simple and proven beyond reasonable doubt... pb)
I had some great links posted on SI to the "New Scientist" magazine on Pareto. Unfortunately they no longer work unless you are a subscriber. I am going to dig up the gist of his stuff elsewhere.
Pareto's work, and subsequent contributions will be my "Main Thrust" against protectionist tariffs. However, I'm just here to learn too, I don't really care who "wins" the argument, I just like learning to know what the real deal is -g- |
