r/videos • u/Spiritofhonour • 2d ago

Milton Friedman on Tariffs and Free Trade

https://youtu.be/59YWFR8lCEc?si=b4jSG79TZrE8CHLl
400 Upvotes

80% Upvoted

144 comments sorted by

View all comments

53

u/Firedup2015 2d ago

Friedman, Pinochet, Reagan, Thatcher and that ruling class generation's collective destruction of working class agency built the tower of shit Trump's isolationist alienation lives in. If there is a hell that bastard is right in the lowest circle, a traitor to his entire fucking species.

5

u/DangerousCyclone 2d ago

Not really. Manufacturing output has increased since the 90's while manufacturing employment has decreased. The reason those jobs went away was due to automation. This happens all the time, technological innovation gets rid of whole sectors of the economy and so far the only way out is to wait until that generation dies while the next grows up getting a job in the new growing sectors. 

That's why AI is such a threat.

-7

u/AlphaTangoFoxtrt 2d ago

Seriously, this is just how innovation works. Like are people mad that the cotton gin took away jobs from plantations? Of course not.

Times change, and the work force needs to adapt. As manufacturing becomes more efficient, there's fewer manufacturing jobs. But new sectors open up.

Again going way back, the cotton gin removed plantation jobs, but opened up more textile mills.

1

u/1138thSword 1d ago

The cotton gin did not reduce work on plantations. It reduced the number of people required to remove the seeds from the cotton, thereby allowing the plantation to produce more cotton, requiring more people to pick that cotton. The cotton gin helped slavery continue.

I see your point though.