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Strategies & Market Trends : Commodities - The Coming Bull Market
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To: maceng2 who wrote (1417)8/1/2002 10:14:47 AM
From: chomolungma  Read Replies (1) of 1643
 
The rest of the arguments look full of holes though. All I can say is look at recent history. The Hawley Smoot Act was a disaster. Trade barriers = less trade = Less hot economy = recession imho.

It's just like the people who argue that rent control works. They see that immediately there will be benefits (cheap rent) and don't see that in the long run they are damaging the very group they seek to protect (lack of housing). Free trade benefits all of society but there are always those who feel they are hurt. Remember the clamor to protect those UAW workers earning 80K almost 20 years ago? The fight to protect their luxurious lifestyles almost sunk the entire U.S. auto industry - far more damaging than reining in absurd wages. Free markets do cause pain and a compassionate society tries to ease that pain, but you can't eliminate the incentives that being exposed to the blunt edge of the free market produces. To do so destroys the mechanism by which the free market works.
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