Badassbab said:
SamuelRSmith said:
Badassbab said:
SamuelRSmith said:
America got rich because it embraced capitalism in the 19th century. It decays now, because it fares away from it. The "emerging nations" are doing so because they are embracing more and more capitalism today. To argue that the way to "ruin" somewhere is to have capitalism, is to argue against history.
|
America got rich in the 19th century because of geography, protectionism, Europeans fighting each other and immense natural resources. State capitalism played it's part.
|
Geography and natural resources have nothing to do with it. Hong Kong is essentially just a big rock with zero natural resources, and yet it's one of the richest places in the world. Because of capitalism. Many places in the world are far more resource-blessed than the USA, and is still far poorer. Look at Africa and Latin America, for example.
Did Americans not fight each other in the 19th century? Best throw out my history books, then!
Protectionism, I'm not gonna dispute that America had protectionism, but it grew rich despite it. To argue that protectionism makes a country rich is to argue that a family who refused to trade with any outside individual could become wealthy through it. Have to build your own shelter, make your own clothes, grow your own food, harvest your own energy, etc... everybody would have a job! The family's employment would be 100%, they'd be billionaires! Right?
|
Protectionism- The US employed the highest import tariffs in it's history to protect it's domestic manufacturing base from cheaper foreign imports. Only once did they become competitive on the world market did it lower the tarrifs. E.g the average tarriff during 1870 was 44.6%, today it's less than 2%.
|
Except the reason the US employed those tarrifs was for revenue purposes during the Civil War... it was kept in place because it was seen as a no lose money grab.
American goods were superior internationally as early as the 1880's.
Tarrifs only persisted as a political corruption. Politicians acting to change tarrifs to benefit their special interests to regain reelection... and reallly only damaged US growth.
Which is why the Democrats ran on a policy of lowering Tarifs... though when elected often didn't follow through because... well special interests.
