• FuckyWucky [none/use name]@hexbear.netOPEnglish
    11·
    9 hours ago

    you could target the tariffs instead of a blanket tariff so that the domestic private sector in priority sectors can be built up with less competition from imports without causing general price increases.

    or you could provide subsidies so the domestic goods are more competitive.

    or better yet, state owned enterprises so the capitalists don’t get free Government money (directly anyway). the state can price it competitively.

    its really their choice, yea some neolibs would scream communism but the US can have imports and domestic production/jobs.

    or you can destroy amerikkka with 500% tariff so that China is forced to sell goods to itself and other countries.

    • Hexboare [they/them]@hexbear.netEnglish
      10·
      9 hours ago

      Foreign competition was kept out by a high tariff conveniently set by Congress, and by 1880 Carnegie was producing 10,000 tons of steel a month, making $1 1/2 million a year in profit. By 1900 he was making $40 million a year, and that year, at a dinner party, he agreed to sell his steel company to J. P. Morgan. He scribbled the price on a note: $492,000,000.

      Morgan then formed the U.S. Steel Corporation, combining Carnegie’s corporation with others. He sold stocks and bonds for $1,300,000,000 (about 400 million more than the combined worth of the companies) and took a fee of 150 million for arranging the consolidation. How could dividends be paid to all those stockholders and bondholders? By making sure Congress passed tariffs keeping out foreign steel; by closing off competition and maintaining the price at $28 a ton; and by working 200,000 men twelve hours a day for wages that barely kept their families alive.

      And so it went, in industry after industry-shrewd, efficient businessmen building empires, choking out competition, maintaining high prices, keeping wages low, using government subsidies

      Industrial capitalist porky-happy

      (Before they realise the US still has no real industrial capacity)