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Technology Stocks : Disk Drive Sector Discussion Forum

WDC 157.75

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Nov 26 3:59 PM EST

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To: Z Analyzer who wrote (5574)	2/16/1999 5:29:00 AM
From: Daniel Goncharoff	Read Replies (1) of 9256

OT -- Krugman Sorry, but I think most of the comments have missed the boat on Krugman. The fundamental assumption of protectionism is similar to the fundamental assumption of central planning: somebody knows better than the free market. It is possible in limited, static situations to make the argument that protectionism is better, just like it is possible to show how central planning distributes wealth more fairly. The problem is that we live in a dynamic world, and free trade is the mechanism by which the efficiencies of the market do their stuff. When the rest of the world was able to make steel cheaper than the plants in Pittsburgh and Gary, it was terrible for the workers in those plants, but good for America. If you want a model of what NOT to do, look at protectionist Britain, which went from being the most powerful economy in Europe to a middling, reluctant participant, still fighting striking coal miners 10 years ago despite the fact that little coal is needed... Regards DanG

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