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HobbitFoot ,

She did because the mercantilist policies of China worked and protecting certain industries was a part of Chinese economic policy.

davel ,
@davel@lemmy.ml avatar

Yellen works for the capitalist class, and they don’t like someone eating their lunch.

https://lemmy.ml/pictrs/image/19cb64c5-b966-4977-97d1-bc9e65fbbc8c.jpeg

Step back for a moment, and the suggested policy change is remarkable. One of the most distinguished living economists is rejecting what’s been one of the most fundamental principles of economics for more than 200 years: comparative advantage. If a country can manufacture goods at lower costs than you can, you shouldn’t raise tariff barriers. Instead, you should import the goods, and send back something in return where your industry is more efficient.

The US has less and less to offer. The neoliberal capitalists deindustrialized the country, and our production costs are burdened by their financialization of everything.

Geopolitical Economy Hour:

TokenBoomer ,

Thanks for the reading list.

SkybreakerEngineer ,

Article is paywalled, but come on this is Bloomberg

some_guy ,

Paywalled

Enkers ,

Best to just copy the URL and paste it in archive.is, then come back and share that URL.

archive.is/Yhie1

davel , (edited )
@davel@lemmy.ml avatar

LetMeArchive.TodayThatForYou

tate ,
@tate@lemmy.sdf.org avatar

And then also post a comment making it clear to OP that accessible posts are preferred. Which was the actual point of some_guy’s comment.

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