Yichuan Cao/Sipa USA/Newscom
Donald Trump believes that Americans should have limited access to everyday items. He suggests that a family should only need five pencils and a little girl should have no more than two or three dolls. Surprisingly, Trump’s recent statements echo those of left-wing Senator Bernie Sanders, who once criticized the abundance of deodorant options available to consumers in 2015.
Despite campaigning on a promise to reduce inflation, Trump now appears eager to increase prices for everyday goods. While he initially suggested lowering prices, his support for economic interventions that could lead to inflation suggests otherwise. His protectionist policies have already resulted in increased tariffs on a wide range of products, causing prices to skyrocket and negatively impacting the stock market.
Supporters of these tariffs, both on the left and right, argue that affordable imported goods are unnecessary for Americans. They frame these goods as detrimental to society, claiming that economic growth should not come at the expense of traditional values. However, this perspective is flawed. Access to inexpensive goods is essential for economic prosperity and personal well-being.
Cheap, globally traded goods enhance our lives by enabling us to explore new interests, furnish our homes affordably, and maintain well-stocked kitchens. Despite some individuals expressing a preference for American-made products, a recent example showed that most consumers still opt for lower-priced goods, even if given the choice to support domestic manufacturing.
While high tariffs aim to revive American manufacturing, the reality is that few Americans desire to work in factories. Surveys indicate that while many believe the country would benefit from increased manufacturing jobs, only a minority actually wish to work in that sector. This challenges the assumption that a significant portion of the population is eager to return to factory work.
According to Scott Lincicome of Cato, individuals such as homemakers, students, and those with permanent disabilities, along with full-time workers, have shown a preference for factory work. However, Lincicome argues that this preference may not be genuine or strong. He suggests that our longing for a past centered on manufacturing is largely sentimental rather than practical. While imposing high tariffs could potentially bring labor-intensive industries back to the country, the cost would be substantial, and it would divert resources from more valuable sectors where the workforce is currently specialized. In essence, this move could result in creating low-quality jobs that are not in high demand while sacrificing better opportunities that are sought after. This perspective challenges the notion that cheap goods are detrimental, as discussed in the article “Trump Is Wrong. Cheap Goods Are Awesome” on Reason.com.
