RE: Steemit Libertarians: Let's Discuss Tariffs and Protectionism
Trump's stance on tariffs and trade wars are something I just can't get on board with.
I think you hit on one of the biggest problems, the guy at the bottom is going to be the one that gets hurt the worst, either by losing a job or in the short term, higher prices of goods and services.
And the fact is that protectionist tariffs rarely work, industries that benefit from these tariffs, historically, tend to end up relying on these tariffs indefinitely and it hinders economic growth. You might be able to argue that in the past it was partially the fault of poorly designed tariffs. But, non the less, a free global market drives effeciency and growth, which is good for the economy.
Now, this only works if all nation's play fair but, if we could get everyone on board with a truely free market, with limited government intervention (avoiding monopolies, dishonest business practices, etc.) I really think you'd see some serious economic growth.
I actually don't know that truly free markets are the answer, but agree with your assessment about why the tariffs as proposed won't work well
I may have painted a little too broadly with that comment. You're probably right, some form of regulation probably should be in place, I wouldn't be apposed to punitive tariffs either. I also think there are some areas of the economy where I don't think a free market really works, healthcare for example (though not really associated with tariffs or global trade).