Does the US have Dutch disease? \ stacker news ~econ

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Does the US have Dutch disease?www.ft.com/content/95a77bb1-10c5-4dbc-ad8c-213c17131332

346 sats \ 23 comments \ @Coinsreporter 11 Jul econ

Dutch disease is a concept that describes an economic phenomenon where the rapid development of one sector of the economy (particularly natural resources) precipitates a decline in other sectors. It is also often characterized by a substantial appreciation of the domestic currency.

@Undisciplined and @SimpleStacker your views on the possibility of US ailing with the Dutch Disease?

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53 sats \ 13 replies \ @Undisciplined 11 Jul

That seems like a very strange claim for the most diverse economy in the world. To be fair, though, I didn't read the article.

62 sats \ 10 replies \ @SimpleStacker 11 Jul

Here's the point:

The US has Dutch disease. Its export is the dollar

42 sats \ 6 replies \ @Coinsreporter OP 11 Jul

Yes, that's the point. Does it mean that other sectors of US economy are in a free fall? I assume that they aren't in a free fall, but they aren't booming either. For decades now, only the US dollar is working as a shield for the US economy.

42 sats \ 5 replies \ @Aardvark 11 Jul

Exporting the dollar has definitely impacted manufacturing in this country. It's the driving force behind the trade deficit, so I suppose it fits the description. Manufacturing has been taking a beating since the 80s

42 sats \ 4 replies \ @Undisciplined 11 Jul

Manufacturing jobs have taken a beating. There's still a lot of manufacturing in the US.

42 sats \ 3 replies \ @Aardvark 12 Jul

Well, there were like 19 to 20 million manufacturering jobs in 1980 compared to 12 million now. Also, for every manufacturing jobs created, roughly 2.2 jobs are supported.

I'm not sure what actually counts as Dutch disease, but there's a major sector in this country that's obviously suffering.

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35 sats \ 2 replies \ @Undisciplined 11 Jul

I suppose Dutch Disease is more of a continuum than a binary.

My sense is that we wouldn't be able to maintain the reserve currency of the world if our economy stopped being the biggest one that everyone else wants to invest those dollars in.

42 sats \ 1 reply \ @denlillaapan 17h

author's point, too, was that strong/weak institutions determine how the spoils of a resource find are spent. U.S. has weak institutions, thus it gets spent opportunistically on, in this case, the wealthy political insiders.

That point, I find nice and persuasive

0 sats \ 0 replies \ @Undisciplined 16h

I mean, yeah. That's the whole point of counterfeiting money, isn't it?

0 sats \ 0 replies \ @denlillaapan 12 Jul

lol

0 sats \ 0 replies \ @Coinsreporter OP 11 Jul

Just read the initial few paragraphs. I didn't bring them here because I wanted you to read the claims by FT in detail.

20 sats \ 1 reply \ @siggy47 12 Jul

I thought you were talking about this, of which we have plenty:

https://en.wikipedia.org/wiki/Dutch_elm_disease

36 sats \ 0 replies \ @Coinsreporter OP 12 Jul

Haha! FT created this clickbait deliberately.

20 sats \ 3 replies \ @optimism 11 Jul

Archived link: https://archive.is/WQyjX

0 sats \ 2 replies \ @Coinsreporter OP 12 Jul

Thanks. It was not Paywalled for me when I shared, but now it is. Strange from FT!

21 sats \ 1 reply \ @optimism 12 Jul

I assume that the function paywall() is no longer statically assigned, like so:

if (article.paywalled) {
   return paywall();
}

but nowadays more something dynamically assigned based on views/virality/non-subscriber interactions, like so:

if (article.current_virality > article.category.target_virality) {
  return paywall();
}

meaning that every article can get a paywall depending on interaction. The ironic thing here is that by sharing the article you may trigger the paywall.

99 sats \ 0 replies \ @Coinsreporter OP 12 Jul

Wow! Thanks. I'm absolutely certain I triggered the paywall for this article.. haha

20 sats \ 0 replies \ @denlillaapan 12 Jul

Yes.

(And I love reading that dude, Greeley. He always digs up interesting things)

0 sats \ 0 replies \ @denlillaapan 17h

the US is a country that discovered debt as a natural resource around 2000, and has been exporting it ever since.

excellent. Silly of author to go into contemporary politics and buhu, Trump tax bill is for the wealthy shit, but otherwise excellent

0 sats \ 0 replies \ @HighOfLot 17h outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.