- Joined
- Apr 4, 2017
- Location
- Denver, CO
Which leads to the question of which distortion is likely to create the most harm, price increases due to tariffs, or temporary price reductions by producers not charging for a return on capital for a period of time, because they have very deep financial markets?
The Henry Clay position could well have been based on the view that the British were not nice guys. They were fully capable of undercutting US industry, preventing the US from reaching scale economies, and then jacking up the prices later. The whole US could have languished in the situation of the non industrial south, which would have been a very risky proposition for the US.
The Henry Clay position could well have been based on the view that the British were not nice guys. They were fully capable of undercutting US industry, preventing the US from reaching scale economies, and then jacking up the prices later. The whole US could have languished in the situation of the non industrial south, which would have been a very risky proposition for the US.