Comment left at the Posner side of the Becker-Posner-Blog:
People say that tariffs hurt the economy during the Great Depression, and they might have. But this is because we were the world’s largest EXPORTER back then. When the other countries retaliated, it hurt our export-based economy.
But now we are the world’s biggest IMPORTER. Imposing tariffs would create jobs for America by protecting our rapidly shrinking manufacturing base. Raise tariffs high enough, and we might end up growing a real economy. Something tells me that other countries will still buy our food.
Recommended infrastructure spending:
1. Pass legislation to expedite permitting; and then
2. Build nuclear power plants by the dozen; and
3. Electrify the railroads.
I am getting concerned about Professor Becker*. Professor Becker says:
Putting new infrastructure spending in depressed areas like Detroit might have a big stimulating effect since infrastructure building projects in these areas can utilize some of the considerable unemployed resources there.
I don’t think that the problem in Detroit is the unemployed ‘resources'. Remind me to say out of the academy. At the Becker-Posner-Blog, and elsewhere, I post under my alias, 'BO Bill'. I'm sure many think of body odor, others Barack Obama, but only the elite few now know the truth.
*I didn't want to take the cheap shot last night, but Becker posted twice. Those two posts are still up this morning.