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Posts Tagged ‘Higher Profits’

#47:DonTheFelon’s Administration Will Lead To U.S. Stagnation

Posted in Disclaimer, Economics, Politics, Quotes, tagged #DonTheFelon, A Free Market, American Dynamism Summit, Capitalism, Competition, Depreciation, Disclaimer, Dynamism, Fareed Zakaria, Fareed Zakaria GPS, Fareed's Take, Good Jobs, Higher Profits, Manufacturing, Philosophy, Politics, Protectionism, Quotes, Stagnation, Tax Credits, Trump Administration, Trump’s misguided push for a ‘manufacturing comeback’, Vice-President JD Vance on March 24, 2025| Leave a Comment »

The hard reality is that services is the fastest growing sector in the world economy, generating higher profits and good jobs.

The effort to revive manufacturing via protectionism is an effort to defy basic economics.

In a free market, people and countries are forced to specialize, moving to those things they can do best.

I quoted JD Vance earlier from a speech he gave at the American Dynamism Summit.

In it he explained that the Trump Administration would use tariffs to protect domestic industries, but he promised them lots of tax breaks and government support to innovate.

But the long history of capitalism tells us that countries and companies don’t innovate because of tax credits and depreciation.

They do so because of competition. That is why markets work. They force efficiency.

If you shield American companies and workers from competition, you will get not dynamism but stagnation.

— Fareed Zakaria
As presented on his TV show: “Fareed Zakaria GPS” (Global Public Square)
The video was found on CNN’s YouTube site – post titled: “Fareed’s Take: Trump’s misguided push for a ‘manufacturing comeback’“
The specific YouTube link is: https://www.youtube.com/watch?v=DDtZLShib2E

Disclaimer: I am making no claim to ownership of this quote / excerpt. I am presenting this quote in support of the view espoused by Mr. Zakaria.

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Click here (24 March) to see the posts of prior years. I started this blog in late 2009. Daily posting began in late January 2011. Not all of the days in the early years (2009-2010) will have posts.