Quote:
Originally Posted by jambo101
Kinda makes one wonder about which system is working and which one isnt when it comes to China and Communism and America and Capitalism,
Saw a documentary the other day on China and it reminded me of America back in the 40's with every one who wants to work working, people buying bigger places to live, moving from walking and bicycles up to Motorbikes and cars.moving from the country to work in large factories in the cities.
No i'm not at the point that i'd rather live in China as they have some issues i'd have a hard time living with but those people looked happy and not the downtrodden government robots that the media generally makes them out to be..
Gave me the impression of a prosperity and hope for the future America once had..
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one word for americans,
tariffs.
America's Industrial Revolution took place with high tariffs
From the ratification of the Constitution to WWI, this vision guided the nation: All Americans participated in that free market as their birthright, but British merchants, who had held life-and-death power over the colonies, would pay a price of admission --a tariff.
From 1870 to 1913, the US economy grew more than 4% a year. Industrial production grew at 5%. The Protectionist Era was among the most productive in history. When it began, America was dependent on imports for 8% of its GNP. When it ended, America's dependency had fallen to 4%. The nation began the era with an economy half the size of Britain's & ended it with an economy more than twice as large as Britain's.
Tariffs alone cannot explain the economic success of the era. But high tariffs, nevertheless, went hand in hand with the rise of the most awesome industrial power the world had ever seen. And the Republican Party, which preached protectionism as the key to prosperity, controlled the White House for all but 8 of those years.
Source: Where The Right Went Wrong, by Pat Buchanan, p.154-156 , Aug 12, 2004