Trumpenomics
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More Shapiro being shocked at how dumb this all was
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I'm sure nobody knows more about China than Donald Trump, but it kind of feels like he misunderestimated them a bit.
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This guy put it better than I did:
Embarrassing to tweet this. Stocks are up b/c the market punched you in the mouth over and over and over until you realized your bad policy needed to be walked back. You started walking it back and the president admitted he wouldn’t fire the Fed chair so the markets went back up
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Sometimes conditions develop because it’s the best idea at the time. One is unwise to muck about with them if they don’t understand why they developed the way they did. This applies to so very many things and I’ve seen my maxim ignored many times, never to good outcomes.
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That is called Chesterton’s Fence, which he viewed as a fundamental tenet of conservatism.
Chesterton's fence
"Chesterton's fence" is the principle that reforms should not be made until the reasoning behind the existing state of affairs is understood. The quotation is from Chesterton's 1929 book, The Thing: Why I Am a Catholic, in the chapter, "The Drift from Domesticity":
In the matter of reforming things, as distinct from deforming them, there is one plain and simple principle; a principle which will probably be called a paradox. There exists in such a case a certain institution or law; let us say, for the sake of simplicity, a fence or gate erected across a road. The more modern type of reformer goes gaily up to it and says, "I don't see the use of this; let us clear it away." To which the more intelligent type of reformer will do well to answer: "If you don't see the use of it, I certainly won't let you clear it away. Go away and think. Then, when you can come back and tell me that you do see the use of it, I may allow you to destroy it."
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Yeah, but if you suffocate efficiency out of the markets and force America to build stuff that other countries used to build for us very cheaply, you will create factory jobs. For every 20 jobs lost from the efficient economy that we destroyed with tariffs, we create one factory job. Everybody knows the value conversion between a factory job and a job in an efficient economy is 1:1000, so 1:20 is a huge win.
I can't wait for the documentaries following factory workers through a day in their lives, so we can all see the magic we've created. It will go down in history as America's single greatest accomplishment.
I would like to see factory jobs on all of our currency going forward. And put factory jobs on our flag.
Education is extremely important.
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Yeah, but if you suffocate efficiency out of the markets and force America to build stuff that other countries used to build for us very cheaply, you will create factory jobs. For every 20 jobs lost from the efficient economy that we destroyed with tariffs, we create one factory job. Everybody knows the value conversion between a factory job and a job in an efficient economy is 1:1000, so 1:20 is a huge win.
I can't wait for the documentaries following factory workers through a day in their lives, so we can all see the magic we've created. It will go down in history as America's single greatest accomplishment.
I would like to see factory jobs on all of our currency going forward. And put factory jobs on our flag.
@Horace said in Trumpenomics:
Yeah, but if you suffocate efficiency out of the markets and force America to build stuff that other countries used to build for us very cheaply, you will create factory jobs. For every 20 jobs lost from the efficient economy that we destroyed with tariffs, we create one factory job. Everybody knows the value conversion between a factory job and a job in an efficient economy is 1:1000, so 1:20 is a huge win.
I can't wait for the documentaries following factory workers through a day in their lives, so we can all see the magic we've created. It will go down in history as America's single greatest accomplishment.
I would like to see factory jobs on all of our currency going forward. And put factory jobs on our flag.
I think it's important to support this initiative, so I'm going to be visiting a factor over the weekend, and supporting factory workers. I love cheesecake, so it's a win-win.
