Thinking Citizen Blog — Biden versus Trump: “Protectionist” versus “Protectionist”
Thinking Citizen Blog — Sunday is Political Process, Campaign Strategy, and Candidate Selection Day
Today’s Topic: Biden versus Trump: “Protectionist” versus “Protectionist” (Jacoby, Boston Globe)
Is there really much difference between Biden and Trump on the trade front? Jeff Jacoby of the Boston Globe argues no. It really does seem that the two leading candidates are playing a game of one-upmanship on the “Buy American” front. Experts — please chime in. Correct, elaborate, elucidate.
TRUMP’S PROTECTIONIST SONG
1. “Protection will lead to great prosperity and strength.” (Inaugural address)
2. “We will follow two simple rules: buy American and hire American.”
3. He has recently complained that Biden has plagiarized his program.
THE BIDEN ECHO
1. “Buy American.” The first of the six principles in Biden’s economic plan.
2. “Make it in America” — The second.
3. The next three — “Innovate in America,” “Invest in All of America,” “Stand up for America,” and “Supply America.”
NB: “When we spend taxpayer money we should buy American products and support American jobs.”
THE LOCAL HARDWARE STORE AND BUY MASSACHUSETTS ANALOGIES — Jeff Jacoby
1. “Protectionism is the equivalent of permitting consumers to shop only at their local grocery or hardware store, barring them from taking advantage of better deals that might be available at the mall or the megastore or online. Granted, that might enrich local shop owners; it might even enable them to hire a few more employees. But their sweet deal comes at the expense of customers, who might have gotten more for their money had they been allowed to take their business elsewhere.”
2. “Buy American” mandates are as foolish for America as a “Buy Massachusetts” mandate would be for Massachusetts or a “Buy Worcester” mandate would be for Worcester. Americans trade across state and local borders because doing so boosts their standard of living and rewards them with an abundance of goods and services.”
3. Jacoby just echoes Adam Smith’s dictum — don’t make at home what you can buy cheaper from somewhere else.
NB: To paraphrase Thomas Sowell: if the first rule of economics is scarcity and the first rule of politics is to deny the first rule of economics, the second rule of economics is that the free exchange of goods and services is good, and the second rule of politics is to deny the second rule of economics. The proliferation of economists supporting protectionism is evidence either that the second rule of economics is wrong or that when partisan agendas conflict with science, science loses — bringing to mind Sancho Panza’s line in Man from La Mancha — “whether the pitcher hits the stone or the stone hits the pitcher, it’s going to bad for the pitcher.”
In the race for the White House, it’s protectionist vs. protectionist — The Boston Globe
Joe Biden proposes $700 billion ‘Buy American’ campaign — The Boston Globe
YOUR TURN
Please share the coolest thing you learned in the last week related to political process or campaign strategy or 2020 candidate selection or anything else for that matter.
This is your chance to make someone else’s day or change their thinking. Or to consolidate in your own memory something worth remembering that might otherwise be lost. Or to clarify or deepen your own understanding of something dear to your heart. Continuity is key to depth of thought.
