Why is protectionism making the economy uncompetative?
how is this connected to economic recession?
Answer:
Just compare it to war. If we don't protect our jobs and wages, why should we have any other national defense?
If you don't pay people to go to college, they aren't worth anything. Yet these inferior yes-men and rich kids run the economy. When the structure is upside-down, the ambitious imbeciles who think they are successes will invent economic nonsense (oinkonomics for the Little Piggies Who Go to Market) and have the influence to make it sound plausible to illogical people who judge ideas by the self-appointed authority of the corporate prostitutes who babble them.
Innovation becomes stagnant.
There is no incentive for further research and development.
Unemployment can skyrocket because of stagnant productivity.
There is no incentive to control price, meaning uncompetitive.
Market forces always determine the level of price. In protectionist society, there are no market forces.Monopoly will be the answer.
Take the AT&T case in USA. Telecommunications is at its stage today (and ways to go) because of divestiture. This is a major step. At&t had a virtual monopoly. Not anymore.
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Would the legalization of drugs improve the economy - GDP?
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If the U.S. economy crumbled would it take the world with it?
Answer:
Just compare it to war. If we don't protect our jobs and wages, why should we have any other national defense?
If you don't pay people to go to college, they aren't worth anything. Yet these inferior yes-men and rich kids run the economy. When the structure is upside-down, the ambitious imbeciles who think they are successes will invent economic nonsense (oinkonomics for the Little Piggies Who Go to Market) and have the influence to make it sound plausible to illogical people who judge ideas by the self-appointed authority of the corporate prostitutes who babble them.
Innovation becomes stagnant.
There is no incentive for further research and development.
Unemployment can skyrocket because of stagnant productivity.
There is no incentive to control price, meaning uncompetitive.
Market forces always determine the level of price. In protectionist society, there are no market forces.Monopoly will be the answer.
Take the AT&T case in USA. Telecommunications is at its stage today (and ways to go) because of divestiture. This is a major step. At&t had a virtual monopoly. Not anymore.
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