alt Hacker News> The only unique thing about America is free markets
Is that unique to America? I'm in EU, I thought we had free markets too.
> The more free market a country is, the more it prospers.
Some countries, including the US, reached prosperity by protecting their markets.
Replies
> I'm in EU, I thought we had free markets too
Significantly less free than in the US, and correspondingly less prosperity.
> Some countries, including the US, reached prosperity by protecting their markets.
Not true. If it was true, N Korea would be massively prosperous.
They created one kind of prosperity early on by protecting their markets and letting industries develop. Many other countries have done the same thing.
The unique thing was that they then created another, less broadly shared, kind of prosperity by eliminating those protections and offshoring those industries, and focusing instead on dollar diplomacy.
> Some countries, including the US, reached prosperity by protecting their markets.
Protecting markets is done with tariffs. Are you sure you want to assert that tariffs are good for the economy?
One of the biggest “services” expenses, i think maybe the biggest, comes in the form of employees.
Afaik the EU is regulated much more heavily in that area than the US, like here in Australia.
It makes sense to me that some amount of the US’ economic advantage comes from their ability to more efficiently match employees with the work currently demanded by the market.