Money means success to most Americans. A house in the suburbs for your family, a dog, and a nice car mean you’ve made it in life. Of course, if you have an even bigger house that your neighbor or a better car, you have made it to the top and should be proud of your accomplishments. However, we always want more. No matter the monetary situation, Americans make decisions based on how they can better themselves. It may sound logical, but in Russell Roberts’ The Choice: A Fable of Free Trade and Protectionism, economist David Ricardo explores the world of wealth with an average Joe American, discussing how Americans get it wrong.
Searching for a way into the land of pearly gates, English economist David Ricardo comes down to Earth attempting to …show more content…
When jobs transfer from America to other countries, that specific career may experience unemployment, but that doesn’t mean America loses jobs. As Dave reveals, there is a shift in jobs to new or other areas. In the big picture, America doesn’t lose at all. It experiences a new opportunity to expand an up and coming field or a field it is strong in. For example, America is a huge producer in crops, but lacks in the production of certain technologies. Although Stellar Television lost jobs to Japan, America is better at producing corn than Japan so it specializes in it. It is costly for America to produce televisions, so why not offer the population a cheaper product to purchase. This in turn increases GDP by increasing purchasing ability and consumption. For the American television producer, it doesn’t appear advantageous, but in general, America comes out doing just fine. Unfortunately, America has yet to listen to economists and continues to promote tariffs. If, in the story, Mr. Bates wins, trade will become even more restricted. Tariffs will rule the land and trade with other countries will
Searching for a way into the land of pearly gates, English economist David Ricardo comes down to Earth attempting to …show more content…
When jobs transfer from America to other countries, that specific career may experience unemployment, but that doesn’t mean America loses jobs. As Dave reveals, there is a shift in jobs to new or other areas. In the big picture, America doesn’t lose at all. It experiences a new opportunity to expand an up and coming field or a field it is strong in. For example, America is a huge producer in crops, but lacks in the production of certain technologies. Although Stellar Television lost jobs to Japan, America is better at producing corn than Japan so it specializes in it. It is costly for America to produce televisions, so why not offer the population a cheaper product to purchase. This in turn increases GDP by increasing purchasing ability and consumption. For the American television producer, it doesn’t appear advantageous, but in general, America comes out doing just fine. Unfortunately, America has yet to listen to economists and continues to promote tariffs. If, in the story, Mr. Bates wins, trade will become even more restricted. Tariffs will rule the land and trade with other countries will