Re: Heavy investment
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Spare me the economics lesson. I understand the principles behind free market economics. The problem is not with theoretical free market economics. The problem is with how the model is being implemented in the world right now, and who it benefits.
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Wow. What a meaningless, banal statement. What, specifically, is the problem with how free trade is being implemented? You don't just state "there's a problem" and then not explain what the problem is.
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If you don't think interventionist policies didn't economically benefit many of the 3rd world countries whose economies boomed inthe 70's, you are nuts.
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Please, enlighten me. What interventionist policies worked, and what were the logical reasons why?
Will
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In response to point no. 1, a bunch of things. For one, the US is still protecting certain industries (farming, steel) while encouraging other (poorer) countries to drop tariffs against US goods. Furthermore, environmental concerns may not be of significant importance in an economic model, but they do come into play in the real world. Multinationals don't have a problem going into some poor country and polluting it.
As to point B, many of the 3rd world nations who developed strong economies did so by applying high tarriffs to foreign goods, heavily subsidizing industries that produced viable exports, and engaging in import substitution. Though import substitution has kind of gone by the wayside, a lot of the east asian economies still heavily subsidize their export-making industries and levy a big fat tax on foreign goods.
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