What's wrong with protectionism

I'm wholly convinced you are a pathological liar.

Someone inform me

Protectionism is a net material negative.

It's taxing cheaper goods. You subsidize uncompetitive industries with consumer dollars.

Economically, protectionism doesn't work.

From an economic standpoint it's laughable.

Politically, it makes sense though

It doesn't make sense for most countries.

Like not even China could get away with it. They rely on North Korean coal.

I like trump using it as a bully stick

Most countries even if they have an abundance of raw resources don't have everything and still need to import luxury goods.

Coffee and chocolate are good examples.

Russia and America are the only examples I can think of that could get away with protectionism but the actual utility of it would be zilch.

Autarky doesn't seem to work for countries that aren't massive in size.

America especially because it's so connected to the world economy.

Following the same train of thought, it makes sense protectionism wouldn't work either

Trump is leveraging the economy to get fair trade as he calls it. He's not even a staunch protectionist.

Like with the EU, revising post-WWII era trade deals that were meant to benefit Europe and get them back on their feet.

Putting us on equal footing is what he regarded as fair trade.

The only fair trade is free trade

He's a bad diplomat though. He wants to handle everything.

Oh my fucking G-d

it depends on the economy

France has benefited for decades from protectionism

everything is black and white to you

no nuance

typical Catholic mush-brains

France also benefited from dirigisme, but that's not a mainstream belief either.

I know a guy who fooled an entire server into believing he had master's degree in econ but in actuality all he had done was read pop econ textbooks. The degree is toilet paper.

They basically hand them out.

You get one with the free pen.

So did he or did he not have the degree?

There has never been a time where a nation hasn't practiced some form of protectionism

He did not.

Protectionism is not economical, but it has it's benefits politically, giving it's people a sense of national pride by focusing on national production. While nearly impossible in practice, a country should move to be more and more self sufficient

And mine is from a pretentious institution

not from some State school

Like institution, like graduate. <:hmmm:459545659972911114>

I attended London School of Economics, an establishment that would never let you step across their threshold if you had seven lifetimes to try

Yes, you repeat yourself.