What are your thoughts about protectionist customs duties?
121 sats \ 3 comments \ @tomlaies 24 Jun 2022 bitcoin
On one hand I find the arguments based on devision of labor very conviencing. I think the first description of this was Adam Smith about Portuguese Wine and English Cloth. This is good for the economy long term and in macro - without a doubt.
On the other hand I think protectionism can lead to more resilient economies since they are less intertwined and more redundant jobs/supplylines.
I thought about this yesterday and can't come to a conclusion.
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21 sats \ 0 replies \ @k00b 24 Jun 2022
Ethically, I'd prefer we freely interact. Pragmatically, it's just a decision where there are tradeoffs, and the tradeoffs are context sensitive.
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2 sats \ 0 replies \ @2bithits 24 Jun 2022
Depends on the country & region.
Some are abundant in resources (Australia)
Others need to import everything (Saudi Arabia).
There arent many that have it all so some degree of globalization will need to continue
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0 sats \ 0 replies \ @premitive1 25 Jun 2022
Resilience requires the freedom to think freely. protectionism doesn't promote free thought. Or competition ;) does encourage war, however. And requires violence to establish and maintain.
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