zlacker

>>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
Private capital. That detail seems to derail your whole comment.

>>ahmene+Sm2
How so? Does this capital being private ensure "this time will be different"?

>>aylmao+Tn2
> Does this capital being private ensure "this time will be different"?

South America didn't have a mix of domestic and foreign investors deploying massive quantities of private money into capital assets in the 60s and 70s. They had governments borrowing to fund their citizens' consumption. Massive difference on multiple levels.

>>JumpCr+xo2
Moreover, if a government is funneling taxpayer money into the projects of a few citizens, that is a clear red flag of corruption. Whereas if private entities are deciding to invest their own capital into infrastructure, it's unclear what the complaint even is