Free trade leads to ruin

FluffyMcDeath

FluffyMcDeath

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Mercantilism is where it's at.

Free trade just leads to a nations productivity ebbing away. Adam Smith hoped that the "invisible hand" of self interest (and here he meant it more as a national pride) would prevent the wealthy from exporting productivity for short term gain. It is the only mention of the "invisible hand" phrase in Smith's work and it seems to have no effect in the modern world where capital is stateless.
 
FluffyMcDeath said:
Free trade just leads to a nations productivity ebbing away. Adam Smith hoped that the "invisible hand" of self interest (and here he meant it more as a national pride) would prevent the wealthy from exporting productivity for short term gain. It is the only mention of the "invisible hand" phrase in Smith's work and it seems to have no effect in the modern world where capital is stateless.
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Yes, I do agree with that, but that info is too simple and easy able to detect that type of behavior. I know it is for this group of people that not into theory of economic. For those people want to get more modern mix of mercantilism and capitalism, this link will try keep it simple easy to read. It is long because it had to explain the event of the economic as it being unfolds of mix of mercantilism and capitalism.
JAPANYES
This type of practice still continue and it not just Japan, but many countries in Asian continent like China, South Korea, Hong Kong, Singapore, Thailand ect…
 
Most interesting reads, from the both of you.

Much of it I knew or figured myself but this gives a much less shattered, more clear picture.

Some things don't add up though. I can't imagine the US doesn't have a form of mercantilism themselves. I suspect Google has the very intention of protecting the US market, and the Echelon / Airbus affair also points at a certain US market defending strategy. And perhaps the promotion of free market itself with the WTO has it's own 'goal'.

Also, I disagree with wat is stated in this article as the invisible hand of Adam Smith being embraced by modern economists. It's quite some time ago I had some economy lessons but I can remember from it that the Adam Smith theory "holds truth in it, but is severely outdated".

It's kind of the equivalence of saying that a soldiers will fight most furiously on the battlefield solely to preserve their lives and to taste glorious victory. Strategy and formations? All bollocks!

Irony is, the US forced to open up (or tried to) the Japanese markets in the 19th century literally at gunpoint.

Also ironic is how the West screwed China thoroughly over and over again in the late 19th century and the early 20th century. Now I fear we get it back :S

Btw. I'd love to see Red's opinion about this. :)
 
I sure Red will stay out of this one. The way I see it, US does have mercantilism themselves as currency. It is getting weaker as times passing.
 
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