What happens if economic policy incentivizes the Scottish to produce more wine and fewer sheep? Everyone gets less wine, less haggis, and higher prices. Andrew Heaton explains. #comedy #tariffs #economics
I did try to learn something from this, but there's an aftertaste I don't sit by, something about degrading stereotypes and performative narcissism as the main aesthetic? What's it called?
Government makes labor artificially expensive in America. Centuries of government oppression creates desperate poverty which makes labor artificially cheap in Asia. The pedantic naval gazing libertarians at Reason: if you don’t let opportunistic multinationals exploit this perverse arbitrage then you’re against free markets!
Libertarians are so funny in their inability to think about and understand the larger picture. Instead having to resort to simple school explanations when such fantasies aren’t relevant to the current situation.
To play devil's advocate, I can think of one great example where efficiency doesn't matter to me. Slavery, I do not care how cheap it is we should be punishing the use of force or coerced labor
There’s simply a national security concern in some industries; letting opec control your country’s energy supply is a bad idea, so placing tariffs to make shale competitive is a good idea. In the same manner, advanced economies don’t have incentives to cultivate their farmland, and it’s often financially dubious to do relative to other industries; however, the near complete dismissal of the agricultural industry is not an option as giving another nation control of your food supply is an extremely poor idea.
If thats true then why are other countries putting tariffs on american exports into their country? (Which they have done before trump was in office btw)
Opertunity costs only work with nations you are certain that free trade is a worthy endeavour. This example of wine is a poor example. Lets try medical supplies and see what happens when the world shuts down and those supplies that were expected to come from another nation is no longer coming. Oh wait, that did happen.
Yeah but that isn't what we are dealing with America has everything it needs but it doesn't have the manufacturing anymore. So this is ripping it back and onshoring it. That is more important than cheep TVs having industry in your country. Ik that is hard fpr libertarians to understand that you there are some things more important than the cheapest price but our economy is a joke and ypu need to force manufacturing back.
I dont totally agree. Sometimes the same product is both exported and imported, hundreds or even thousands of kilometers of travel for no good reason. Plus sometimes one can switch to a more locally produced alternative instead. Eg. if a country has cotton but no wool, for some things they could substiture that. Which they might not do if they can import the other product for cheap.
It's amazing that people here still wants for other countries to drop tariffs. Lmao. During the obama and biden years, do you feel the need to buy eggs at ridiculous prices? I'm sure in those days other countries are placing tariffs against US goods right? But that didn't stop you buying cheap eggs and worry about the US economy because it's growing!
Fucking idiots still believing an island full of penguins are issuing tariffs against the US 😂😂😂
I like how people say tariffs bad we shouldn't use them. But literally every country has been using tariffs to stop American goods. Europe has a bunch of tariffs on American goods as well as china. Why arent you people calling them out for it?
So you're saying we should put tariffs on the French, but take them off once they come back from vacation in the hopes that they'll go back on vacation?
I'm living abroad so I'm hoping prices go down here as exporters around the world look for new markets where they don't have to worry about the price of their goods getting jacked up.
I don't care about your tarrif fears when corporations have hollowed out the white middle class to employ slave labor to give cheap, poorly made goods to Americans. I care more about white middle class Americans and their well-being than your stocks going up. America is more than an economic zone.
Free trade is great and all but when you have countries like China selling products at a loss just to gain access to foreign markets it’s just not sustainable.
China doesn't have anything except cheap labor and a bunch of american, the wall street people who wanted to screw the american worker and make a buck. I remember before we had free trade. Things were fine
Keep in mind that the new US tariffs are reciprocal. They are a negotiatory tool to convince other countries to lower their own tariffs on the US. They are already working, as Vietnam has already begun negotiations with the US. If they are successful, then we should expect the tariff to be dropped, or at least substantially lowered.
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I did try to learn something from this, but there's an aftertaste I don't sit by, something about degrading stereotypes and performative narcissism as the main aesthetic? What's it called?
Government makes labor artificially expensive in America. Centuries of government oppression creates desperate poverty which makes labor artificially cheap in Asia. The pedantic naval gazing libertarians at Reason: if you don’t let opportunistic multinationals exploit this perverse arbitrage then you’re against free markets!
Libertarians are so funny in their inability to think about and understand the larger picture. Instead having to resort to simple school explanations when such fantasies aren’t relevant to the current situation.
To play devil's advocate, I can think of one great example where efficiency doesn't matter to me. Slavery, I do not care how cheap it is we should be punishing the use of force or coerced labor
There’s simply a national security concern in some industries; letting opec control your country’s energy supply is a bad idea, so placing tariffs to make shale competitive is a good idea. In the same manner, advanced economies don’t have incentives to cultivate their farmland, and it’s often financially dubious to do relative to other industries; however, the near complete dismissal of the agricultural industry is not an option as giving another nation control of your food supply is an extremely poor idea.
No, I’d rather not buy from child labor
So what you're saying is it drives innovation
What if scotland invades and conquer france then there is no need of tariffs what u say 🎉
Disregarding the fact that countries rip others off entirely, nice
#mostlyweekly
If thats true then why are other countries putting tariffs on american exports into their country? (Which they have done before trump was in office btw)
I have yet to find an argument for tarriffs that doesn't completely fold to the words "comparative advantage"
Opertunity costs only work with nations you are certain that free trade is a worthy endeavour. This example of wine is a poor example. Lets try medical supplies and see what happens when the world shuts down and those supplies that were expected to come from another nation is no longer coming. Oh wait, that did happen.
Yeah but that isn't what we are dealing with America has everything it needs but it doesn't have the manufacturing anymore. So this is ripping it back and onshoring it. That is more important than cheep TVs having industry in your country. Ik that is hard fpr libertarians to understand that you there are some things more important than the cheapest price but our economy is a joke and ypu need to force manufacturing back.
I dont totally agree. Sometimes the same product is both exported and imported, hundreds or even thousands of kilometers of travel for no good reason. Plus sometimes one can switch to a more locally produced alternative instead. Eg. if a country has cotton but no wool, for some things they could substiture that. Which they might not do if they can import the other product for cheap.
It's sad how many economically ignorant Trump simps are in the comment sections. It's even worse than Fox News.
Then tell them to drop the tariffs on our stuff and we will do the same. If tariff bad then those countries are twice as bad as us.
Drawing this to its logical conclusion, Japan should've only stuck to making tuna instead of some of the best cars in the world after WW2.
Remember everyone, Free Trade is a privlige, not a right! If a country doesnt want to sell their shit, it doesnt have to.
It's amazing that people here still wants for other countries to drop tariffs. Lmao. During the obama and biden years, do you feel the need to buy eggs at ridiculous prices? I'm sure in those days other countries are placing tariffs against US goods right? But that didn't stop you buying cheap eggs and worry about the US economy because it's growing!
Fucking idiots still believing an island full of penguins are issuing tariffs against the US 😂😂😂
Easy to say with wine, harder to say with billy the Machinist who just wants a job that can support him and his family.
You are TOTALLY AWESOME at not explaining why other countries have had tariffs against US goods since before WWII 😂
Kudos for sticking to your guns and not bending the knee to Donald and his poor impersonation of libertarian policy
I like how people say tariffs bad we shouldn't use them. But literally every country has been using tariffs to stop American goods. Europe has a bunch of tariffs on American goods as well as china. Why arent you people calling them out for it?
Notice how he glosses over all the countries whose competitive advantages are a willingness to poison the environment and slave/child labor.
It's all french wine and scottish sheep; not Chinese slave labor, Indian toxic chemicals and African child slaves working in mines.
Sooo… It depends on what goods the tariffs are imposed on?
So you're saying we should put tariffs on the French, but take them off once they come back from vacation in the hopes that they'll go back on vacation?
thanks, mr awesome!
If tariffs are a bad idea then why are countries responding to our tariffs with tariffs?
I'm living abroad so I'm hoping prices go down here as exporters around the world look for new markets where they don't have to worry about the price of their goods getting jacked up.
If Canada, Greenland, and Mexico became the next 3 states, tariffs wouldn't matter.
You're right, tariffs are bad. Let's have every country abolish them.
I don't care about your tarrif fears when corporations have hollowed out the white middle class to employ slave labor to give cheap, poorly made goods to Americans. I care more about white middle class Americans and their well-being than your stocks going up. America is more than an economic zone.
worse is one way tariffs. which is what US is attempting to fix to equal / reciprocal tariffs then progress to ZERO bilateral tariff.
We should end Tariffs, as soon as all the other countries end their tariffs on us.
Free trade is great and all but when you have countries like China selling products at a loss just to gain access to foreign markets it’s just not sustainable.
The whole slave labor thing isn’t great either.
China doesn't have anything except cheap labor and a bunch of american, the wall street people who wanted to screw the american worker and make a buck. I remember before we had free trade. Things were fine
I don't know. Bastiat spoke much about the French's love of tariffs.
Okay…. but America has lots of capacity to produce steel, employing millions in steady careers. Why was that given up?
If tariffs are bad then why does literally every nation we trade with charge us tariffs?
Keep in mind that the new US tariffs are reciprocal. They are a negotiatory tool to convince other countries to lower their own tariffs on the US. They are already working, as Vietnam has already begun negotiations with the US. If they are successful, then we should expect the tariff to be dropped, or at least substantially lowered.
As usual you’re right which means the trumpies come out to whine like they always do