This is pre-Adam Smith economics.https://twitter.com/realDonaldTrump/status/1021719098265362432 …
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Replying to @David_Boaz @conor64
Perhaps it’s Andrew Lo economics: any good strategy gets overcrowded, and once you can articulate the consensus you can have an edge merely by disagreeing with it, even if it’s reasonable.
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(Because eventually the consensus gets reified, while the assumptions that underpin it are forgotten—in this case, the assumption of constant economies of scale, and the assumption that other countries are price-takers, not monopolists or monosponists.)
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There is simply more intellectual edge right now in being a free trade skeptic.
5:43 AM - 24 Jul 2018
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