Ricardo's theory of comparative advantage is valid only if one ignores issues of national security and cultural incompatibilities. It assumes all trading partners are permanently friendly, with shared values. That's been the flaw of our China policy.
— Not-So-OK Boomer (@Rand_Simberg) April 21, 2020
4 thoughts on “Facemask, Pack Of 50”
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Thank you for this, Rand.
I’ve been singing this song for my entire adult life, as have many, but it’s taken this pandemic to wake a lot of the free-traders up on the NatSec issue.
Interesting that it lists country of origin for those masks. Amazon wasn’t doing that at all pre-pandemic. I used to have to do a lot of searching to find country of origin when looking to buy things off Amazon. (I have always avoided buying anything from China unless there is no other option, because I don’t like buying unreliable garbage, nor do I like supporting the bloodiest regime in all of human history).
It’s amusing, really. Pre-pandemic, I was considered by many to be an extremist crank when it comes to China. Now, looks like I’m mainstream. I’m not quite sure how I feel about that. 🙂
It would sure be nice if Congress required the same info on an online listing as it does on packaging, such as the “made in” label from the box it comes in.
I think another flaw in comparative advantage in free-trade theory is the assumption that it’s relatively permanent. The US has a major comparative advantage in mining, farming, and at one time in industrial production, but that comparative advantage in industrial production was because we built lots of factories and built up expertise in factory production.
As it turns out, those factories can be boxed up and shipped overseas just like corn and steel, and the expertise is written down in three-ring binders that get shipped with the factory. My observation is that in many cases, comparative advantage can be traded just like the products free-trade theory is based on, which means the theory’s assumed constant is actually just one of the variables. That’s a profound theoretical flaw.
This shows up when trading with a country that doesn’t buy free trade theory, such as a totalitarian Marxist country that thinks in terms of “seizing the means of production.”
I think this is the perfect time for a Boring Co. merchandise offer: the Elon Mask.
Normal people might think it’s in bad taste though.
A lot of these Chinese masks are “sterilized” “pre-owned” (and used) masks. What a cl*ster fuck.