America: Capitalistic Hypocrites

It is interesting to me that even though we are a "capitalistic" society, America is always violating its own rules. I’m not talking about socialistic/communistic policies, such as welfare, etc. I’m talking about our own policies to “protect” ourselves. America continuously subsidizes steel manufacturing, farming, and other industries.
I contend that if we truly were a capitalistic society then we would let other countries produce these types of products because they can do it cheaper, faster, and better. We in turn would competitively produce with our competencies whatever product we make best (big cars, movies, music, and porn).

With our global society today and this formula, our products we could purchase and produce would be bigger, better, and cheaper.


Jake said...

American industries can't even turn a profit making big cars these days! While I agree that consumers benefit from outsourcing and specialization, there is sound reasoning that supports retaining some unprofitable businesses.

Blake said...

America is completely footing the bill for a multi billion dollar war that serves no economic, or humanitarian purpose, so I see no harm in letting them support some industries that provide valuable products and services.

Dr. Tufte said...

Hannah - capitalistic isn't generally regarded as a real word.

I think the point is well taken, but it could go the other way. Perhaps the problem is not that our actions don't fit the name, but that we need a new name that is more consistent with what we do.

Blake: I think your suggestion falls into the two wrongs don't make a right category.

FWIW: It's interesting the no one remarked about our (apparent) comparative advantage in the production of porn. ;)>