alt Hacker NewsNo I don't understand your objection. My argument is that preserving domestic capacity is necessary for our survival, and that limiting imports is necessary but insufficient to achieve that goal.
Banning stock buybacks would be another helpful step. Can you imagine being at the helm of a major US automaker as the transition to electric is happening and thinking you have no better investment to make in your own company than literally taking the revenue you're earning and sending it to hedge funds and Wall Street?
> My argument is that preserving domestic capacity is necessary for our survival…
And my point is that's only the case if said capacity is effective.
Protectionism does not lead to effective industrial capacity. It leads to the Ford Pinto.
> Banning stock buybacks would be another helpful step.
I'm all for this!