Comment by cudgy
16 hours ago
Interesting points. Totally agree with you on big tech companies simply treating fines as cost of business instead of operating in good faith within the confines of the legal requirements in the countries where they do business.
The EU is fine with tariffs as well though. It’s not a US only activity. However, the US has a history of tariffs as income tax wasn’t even in existence until early 20th century. I’m interested to see what impacts tariffs are going to play as it does seem a reasonable tool for sovereign nations to utilize. Otherwise, how else do they prevent the hollowing out of their working class in countries that do not provide the cheapest labor? Libertarian types will simply say pick up your bootstraps and compete, but that’s not realistic against labor that is a fraction of their cost. Protectionist measures may be the only logical response for the working class to be protected.
> The EU is fine with tariffs as well though. It’s not a US only activity.
Indeed, I don't wish to imply otherwise, I'm just saying it's a bit hypocritical to complain about something being taxed when also implementing a tax of the kind being complained about — even if the thing being complained about is actually a fine rather than a tax, complaining about it as if it were a tax makes it hypocritical. (Also, it's not like the US doesn't fine businesses for not following laws).
I, too, have no idea how this will play out. Even just from what you say, and ignoring the potential bull-in-the-China-shop that would be the economic impact of AI performing useful cognitive labour at below-subsistence-farming wages.