Changes in interest rates will do nothing for our economy. The causes of our economic woes are systemic. Tinkering with the interest rate dial by the Federal Reserve has not changed the decline in the American standard of living over the past five decades.
Nor can we look to the invisible hand of God, or, Keynesian economics, to change the trend of decline in the American economy. We cannot simply wait for the next business cycle to crest. Business cycles are just that, times
Americans were a great people because, on a whole, their basic needs were met. Land, natural resources, and labor were abundant through the end of the 19th century. America was founded on the principle that any man can carve a life out of the wilderness. If a man worked hard, he had the reasonable expectation of being able to feed, clothe, and shelter his family. Freed from the pressures of survival, Americans brought modern democracy to the world through their revolution for self-determination.
American’s ability to create for their children a world, better than the one they found is passing. American’s current economic troubles, which more and more of its citizens are facing, is not an anomaly, it is a trend. America has been losing manufacturing jobs since the 1850s when Japan took over the textile market. No country can sustain such losses forever. America is at a turning point in its history. Its economy can no longer sustain the dreams of the inhabitants of the Post-Industrial
Traditional protectionists, like America’s founding fathers, needed no other rational for imposing tariffs than that they benefited American companies. The second law enacted by the newly formed federal government of the United States was the creation of tariffs.
“Us versus them” was the basis for American trade policy for the first hundred years of our history. However, by the middle of the 19th century, the definition of “us” became subject to debate. The northern industrialized