Reply #9: Protectionism never works. [View All]

[Silverhair]

First, all it does is ignite trade wars. The other countries would throw up high tarrifs against American goods. The Smoot-Hawley act was one of the major causes of the Great Depression, and of WWII.

If protectionism is so great, then perhaps we should seal off the country and don't trade with ANYBODY. North Korea is doing that and it has been a horrible disaster.

Also, protectionism has a false premise. It assume that because I bought a radio controled digital watch for $35.00, then if the foriegn imports are stopped that I will pay $75.00 for one. But the truth is that I would instead do without a radio controled digital watch.

There is still a place for unions, but they have to come into the 21st century. However, I don't have any specific ideas on how to do that as I am not in the labor pool anymore. I make my money by playing poker, and there will never be a union for that.