>>tedsan+(OP)
The US appears to be fully in the grips of centralized economic autarky. A tiny coterie of industrialists who have the President's ear decide how to allocate a gigantic amount of capital for their pet projects while the state raises tariffs and implements bans to protect them from competition.
Didn't go well for South America in the 60s and 70s but perhaps, as economists are prone to saying, "this time will be different".
>>rchaud+592
this is private capital. yes, we are in an era of big projects and big capital deployment. is that synonymous with centralized autarky? i don’t agree
>>rchaud+Xf2
Like every other country. You exchange good or services for currencies from the other countries, and then you can use that currency to buy things from anybody that would take that currency.
There is nothing saying a socialist country can't produce goods and services, and sell them.