Message from @AustrianSchoolUbermensch
Discord ID: 694166881845903380
Just watch this
Not inherently. There's only certain commodities which actually have an inherently differing opportunity cost depending on the country
Fracking is more costly than extracting in Saudi Arabia for example. Fields differ inherently in what climates they are in, how fertile they are etc.
Factories almost entirely depend on technical expertise or cheap labour
The advantage free trade offers you is that you get immediate gratification by getting stuff cheaper
I have to keep re-reading what you're saying because I must be missing something.
So what's wrong with the law or free trade again?
Because it has a short time horizon
It's advantage is in you saving a few bucks now
But putting aside economic development
With few exception where foreing investment makes up for it like Singapore
It's immediate gratification
I am incredibly confused
Basically my views are similiar to this
I don't like the leftis shit
But it's the policy under which most countries industrialized
Right
It's not a panacea either though
So you want less net supply of goods in the world and worse material conditions?
You can still fuck up like Argentina
I'm willing to put up with higher costs of goods now if that allows my economy to develop in the long term
You see the link between those to things
I do not understand
Decreased costs means increased capital accumulation
meaning more investment expenditure
increased roundaboutness of production
and therefore more supply over the long run
and better supply
Not what actually happens. As you save money from cheap imports you receive lesser wages, capital moves abroad etc.
How does increased costs do that without hindering standards of liviing?
"As you save money from cheap imports you receive lesser wages"
What the fuck
How
You increase the net quantity of capital and supply and therefore increase wages as each worker increases in marginal value
You get cheap imports because people in your countries are losing work in favour of a country with cheaper labour costs
Yeah, but people get new jobs with the freed up capital
new investments
Creative destruction
Doesn't necessarily follow
What