Comment by ceejayoz
10 hours ago
> My argument is that preserving domestic capacity is necessary for our survival…
And my point is that's only the case if said capacity is effective.
Protectionism does not lead to effective industrial capacity. It leads to the Ford Pinto.
> Banning stock buybacks would be another helpful step.
I'm all for this!
We agree on quite a bit.
You're wrong about protectionism though. It is an essential part of industrial policy and heavily employed by every industrial powerhouse country including Japan, China, Germany, and yes the US. China uses it extensively and it's a core pillar of why they are now the center of world industry.
The long running argument to the contrary is better understood as propaganda by the financial sector.