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Politics : A Hard Look At Donald Trump -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (16380)	5/31/2019 6:33:02 PM
From: Brumar89	Respond to of 46605

Albert Nock and Henry Hazlitt - lefties according to Trumpers: Cheif Hostage Negotiator, USA Conservator1 Excellent. I'll supplement Nock with Henry Hazlitt: "And this brings us to the real effect of a tariff. It is not merely that all its visible gains are offset by less obvious but no less real losses. It results, in fact, in a net loss to the country. For contrary to centuries of interested propaganda and disinterested confusion, the tariff reduces the American level of wages. "Let us observe more clearly how it does this. We have seen that the added amount which consumers pay for a tariff-protected article leaves them just that much less with which to buy all other articles. There is here no net gain to industry as a whole. But as a result of the artificial barrier erected against foreign goods, American labor, capital and land are deflected from what they can do more efficiently to what they do less efficiently. Therefore, as a result of the tariff, the average productivity of American labor and capital is reduced. "The effect of a tariff, therefore, is to change the structure of American production. It changes the number of occupations, the kind of occupations, and the relative size of one industry as compared with another. It makes the industries in which we are comparatively inefficient larger, and the industries in which we are comparatively efficient smaller. Its net effect, therefore, is to reduce American efficiency, as well as to reduce efficiency in the countries with which we would otherwise have traded more largely."