3) And on a more general note, how on earth can you free up markets while providing a national income? How can you discourage outsourcing while providing Americans what can only be assumed to be several times what foreign citizens are willing to work for for doing nothing?
I've wondered about this before, and I'm not an economist, but here's the conclusion I've come to. I think this would, in theory, be possible if--and only if--the United States could operate its economy completely independently of any foreign trade of any kind. Which, to be fair, is probably doable on paper. We're a big country with a good infrastructure, we have more oil in the US than in all of the Middle East, and we've got plenty of other raw materials, so I believe we could run a totally isolationist economy if brought down to the point.
It would also mean a lot of products would be suddenly unavailable for a long period of time, and a whole bunch of companies would die out or move overseas overnight, and prices would fluctuate unpredictably up and down for (at least) a few months, and there'd be a zillion other negative consequences that I can't even imagine right now, and it would go against pretty much everything the left claims to like. It's a completely insane idea on the face of it. But this is the only way I can imagine this "national income" thinggummy working. At all.
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I've wondered about this before, and I'm not an economist, but here's the conclusion I've come to. I think this would, in theory, be possible if--and only if--the United States could operate its economy completely independently of any foreign trade of any kind. Which, to be fair, is probably doable on paper. We're a big country with a good infrastructure, we have more oil in the US than in all of the Middle East, and we've got plenty of other raw materials, so I believe we could run a totally isolationist economy if brought down to the point.
It would also mean a lot of products would be suddenly unavailable for a long period of time, and a whole bunch of companies would die out or move overseas overnight, and prices would fluctuate unpredictably up and down for (at least) a few months, and there'd be a zillion other negative consequences that I can't even imagine right now, and it would go against pretty much everything the left claims to like. It's a completely insane idea on the face of it. But this is the only way I can imagine this "national income" thinggummy working. At all.