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[quote]Buzz can you link to where Friedman talks about gold and free trade?[/quote] I am sorry to say that he didn't, I thought this objection up when I was talking to a friend about free trade and employment.
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Sounds like Horwitz likes to stir up libertarians against eachother. Why don't you ask him for the link?
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Because foreigners won't have to buy imports to sell exports. They can use that gold to buy from other countries (hence less employment).
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re-reading
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I used to believe in protectionism. Several users here tried to persist me to abandoned it, but they did not take me seriously. But after reading Milton Friedman, I can say that I am absolutely convinced that protectionism is nonsensical > this is because the foreigners don't sell goods for dollars for nothing, they sell their shit to buy our
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They’re called fascists, just like Michael Savage. No, fuck you. Way to go conflating a voluntarily chosen ideological position with a forced condition of economic servitude. Please teach us how to be bourgeois insurrectionists! I steal internet from a hacked DSL gateway. I haven’t said a single thing I am ashamed of.
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Ooh, is he mad?
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[quote] Do you propose preventing this by having the government come in and "fix" the problem[/quote] Why not?
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1. And how do workers determine their marginal revenue product? 2. What? No. That's not an answer. Why won't they be able to get the good at a low price? They can increase what they want to pay, but they won't because other employers have NO clue what the marginal revenue product of the workers is. 3. So it's impossible to calculate
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For example, let's say all employers are forced to hire workers at 18 dollars an hour when previously they were paying 8 dollars - won't they just raise prices to compensate? Everything will cost 10 dollars more, but workers will have 10 dollars more purchasing power. Has this been brought up - thoughts?