Steel Taxes’s Wrong Way Up

I don’t do politics, but this one is too good…

There’s a Google search you can do : “Trump Steel Bush”.

In 2002, G. Bush imposed taxes on imported steel and aluminium, and it’s been a big disaster.

The lesson was : “Things are much more complicated than we think”.

It became hard to find some steel to buy. The prices increased and impacted customers. There were like 20.000 more jobs in the steel industry (yeyyy!) AND 200,000 LOST jobs elsewhere (in the car industry, for example). The taxes on imported steel had to but stopped quickly before it harms the industry too much.

Trump just re-did it. He just did it harder. Read the articles you found with Google, it’s interesting! The typical wrong idea…

And by the way, it’s very interesting that a GOP president uses a socialist protectionist tool (where’s the invisible hand of the market here?) on a market which is on the decline in the USA since… 1953.

 

This is a great little pattern to study. The wrong way up : when does it happen?

  • When you ignore the complexity of things.
  • When you mix words (labels) and reality.
  • When you ignore the past.
  • When you wrongly insist.
  • When you don’t listen to people who know.

 

Thanks for reading!

 

You can also read :

 

 

Natural_Bridge_New_York_July_31_19742.jpg

Picture : Stephen Shore

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