Donald Trump’s tariffs will likely backfire, hurt the United States, and accelerate the decline of US dominance, argue political economists Radhika Desai, Michael Hudson, and Mick Dunford.
The proposition that the 'tariffs will backfire is informed by the same political economy trends that they are designed to correct. The goal seems to be to offload costs on to other stakeholders. Bourgeois debate locates that in the system of nations. Trump sees this is a competitive pitch and counter pitch dynamic. He is confident he will win out but unconcerned by the effects. The policy is in effect raising prices for traded goods and services, altering the trade flows and structure of each economy in turn. All of it raising prices. Profit seeker win out, workers / consumers lose out. While China will not succumb to this bullying, many politicians will cave. In most countries workers will pay more and likely lose jobs.
Sadly...it will also hurt the rest of the world. What is to be gained when all of us are poor? A world-wide social revolution...with guillotines and all, is what is urgently needed. Those people who, for a long time, have preached 'pacifism' on whose behalf?, have betrayed us. It is time to recognize it and stand up.
It seems to me that there are two components to the problem: capitalism focuses on profits, and human nature encourages those integrated into that system to seek maximum profits. Secondary goals fall to the wayside and the system becomes a zero-sum game. Tomorrow has no value; the only goal is what can be achieved today, and if human suffering is a part of today’s goal – so be it. This game ends in one way only – anthropogenic climate change will show us how. You only have to open your eyes to see it. Trump and his toons are simply the current players on the field.
The proposition that the 'tariffs will backfire is informed by the same political economy trends that they are designed to correct. The goal seems to be to offload costs on to other stakeholders. Bourgeois debate locates that in the system of nations. Trump sees this is a competitive pitch and counter pitch dynamic. He is confident he will win out but unconcerned by the effects. The policy is in effect raising prices for traded goods and services, altering the trade flows and structure of each economy in turn. All of it raising prices. Profit seeker win out, workers / consumers lose out. While China will not succumb to this bullying, many politicians will cave. In most countries workers will pay more and likely lose jobs.
Sadly...it will also hurt the rest of the world. What is to be gained when all of us are poor? A world-wide social revolution...with guillotines and all, is what is urgently needed. Those people who, for a long time, have preached 'pacifism' on whose behalf?, have betrayed us. It is time to recognize it and stand up.
For Americans it is necessary to break things down to simple expressions.
Tariffs are a Zero Sum Game - no one wins!
Well done here.
It seems to me that there are two components to the problem: capitalism focuses on profits, and human nature encourages those integrated into that system to seek maximum profits. Secondary goals fall to the wayside and the system becomes a zero-sum game. Tomorrow has no value; the only goal is what can be achieved today, and if human suffering is a part of today’s goal – so be it. This game ends in one way only – anthropogenic climate change will show us how. You only have to open your eyes to see it. Trump and his toons are simply the current players on the field.
This is why accelerationists like BadEmpanada encouraged people to vote for Trump.
Powerful information. Leadership is the problem.