Tariffs and Reindustrialization

This seems to be my day for letter-writers. Another writer in The Wall Street Journal‘s Sunday Letters section wrote about the current lack of effectivity of (protectionist) tariffs in stimulating moves toward reindustrialization in our economy.

Through initiatives such as Operation Warp Speed and strategic invocation of the Defense Production Act, the government took risk out of domestic production through substantial direct investment, guaranteed purchase agreements, prioritized allocation of critical materials and equipment, and streamlined regulatory processes.

He then proposed a similar program to spur reindustrialization.

He’s right as far as he went, but it’s too one-sided, lacking as it does any requirement for the targeted industries to do their part. Aside from the addictive nature of protectionist tariffs, it’s far too often the case that the “protected” industry companies merely take advantage of the increased prices of tariffed imports to raise their own prices accordingly, collect the increased revenue, and do nothing to improve their own competitiveness.

What’s also needed, as a part of these tariffs, is a requirement that the “protected” industry companies use the large majority (60%-75%, say, just to have a starting point for discussion) of the increased revenues accruing from the increased sales at their immediately pre-tariff prices to achieve the following:

• increase market share via their largely unchanged price
• increase spending on innovation
• increase spending on capital plant maintenance, improvement, and expansion
• increase spending on line worker wages
• increase spending on line worker hiring

And one more fillip: a hard expiration date of the protectionist tariff, in the range of 5-10 years, that cannot be extended except by Congressionally enacted statute.

That’s the route to actually reindustrializing: doing concrete things to achieve concrete goals.

It’s Out

My latest Peter Hunt novel, Dodger, is out and available in Kindle format on Amazon. See my Author Page link in the sidebar.

“Blackmail targets generally fall into two categories in this modern age.” He cocked an eyebrow at that. “One—” thumb up “—the blackmailee really does have something to be blackmailed over. There are subcategories of that.” Index finger up. “The other is the blackmailee is innocent as that chair you’re sitting in, but he’s being scammed by somebody with a good photoshop package. Some folks are timid enough or exposed enough in other ways—a delicate reputation in a sensitive line of work, maybe—to be bothered by the attempt.”

I mentioned sub categories. One—” thumb again “—is the blackmailee really did the thing he’s being blackmailed over. The other—” index finger; I resisted pointing it at him “—is he did something he doesn’t want exposed, maybe is blackmailable, maybe just embarrassing, and he doesn’t want that out during the blackmail about the thing he didn’t do.”

And then Peter Hunt’s client fired him from the blackmail case.

Not too long after that, a hitter took a run at him, and while he’s at the police station reporting the matter in detail, he learns that other hitters had run at his pseudo-niece, Trang Thi Thao, who was chasing a lead on her late sister’s drug supplier.

Hunt decided it was time for Plan C.

I looked from one to the other and said, “Time for me to go to Plan C.”

“I don’t like Plan C,” Thao said.

“You don’t even know what Plan C is.”

“It’s one after Plan B, which means it’s even more desperate and risky and with even less chance of succeeding.”

“What happened to Plan B?” Jackie said.

“Way things are going, it’s time to skip ahead,” I said. “Get out in front.”

Jackie said, “You’ve been out front all along. You’ll get shot. Again.”

“Out front is different from out in front. One of those nuancicals. Been shot before. I’m still here. Besides, if I do, we’ll know who they are and where they are. If I don’t, we’ll still know who they are and where they are. Win-win.”

Jackie said, “And just what is this Plan C of yours, O Wise One?”

“I’ll let you both know right after I figure it out.”

A Teachers Union Disapproves of Capitalism

The Colorado Education Association has decided that “capitalism inherently exploits children, public schools, land, labor, and resources,” and it has passed a resolution so declaring.

CEA believes that capitalism requires exploitation of children, public schools, land, labor, and/or resources. Capitalism is in opposition to fully addressing systemic racism (the school to prison pipeline), climate change, patriarchy, (gender and LGBTQ disparities), education inequality, and income inequality.

An earlier version, apparently sanitized for public consumption, was more fulsome in its opprobrium:

CEA believes that capitalism requires exploitation of children, public schools, land, labor, and/or resources and, therefore, the only way to fully address systemic racism (the school to prison pipeline), climate change, patriarchy (gender and LGBTQ disparities), education inequality, and income inequality is to dismantle capitalism and replace it with a new, equitable economic system.

Either way, it’s just From each according to his ability, to each according to his need, with the phrasing updated to suit 21st century Leftist sensibilities (including updating the pronouns, which I didn’t do).

The Good News Is

…or at least the bragging news….

My latest Peter Hunt novel, Missing, is out, and it can be had here.

It was well toward dusk when I got to the end of the dirt road; I walked on down to the beach. Some crime scene spots were lighting up the area, and there was Miller, face down in the pebbly sand, a small, dark splotch under his head and another one under his chest. Lt. Jankuwicz was there, still the sharp dressed man in a dark, double-breasted gabardine trench coat, unbuttoned and the belt hanging loose from its loops, a dark suit, and dark ankle boots appropriate for the beach. Cold or no cold, always cool. Gonzo was Gonzo: cargo pants and a fake fur-lined leather jacket.

Crime scene and a couple of forensics folks were doing their tricks with the scene and the body, which was starting to bloat. The forensics team was the same one I’d worked with before when Rick’s apartment had gotten tossed and Jennifer Clark had gotten herself murdered. The one was a babe with a carefully tailored uniform. Her assistant was a slump-shouldered, balding man with round rimless glasses.

Jankuwicz was standing a short distance from Miller’s head where he could look along the length of the body. And look over the whole scene, taking it all in. Gonzo told me Forensics Babe had told him Miller had been dead for a while. The bloating implied a time frame, and the cold messed with the time frame. She’d need him on her table to get a good estimate. Then Gonzo had to do it.

“Want to look at the body?” he said.

I looked at him. “No,” I said. “But maybe I ought.”

 

Someone had iced a colleague of sorts of another someone who’d tried to ice Hunt. And that was just half the story. The other half involved the weak father of a missing college boy whose younger brother was involved with a group of high school street racers, one of whom drove a car used for smuggling small, high value items.

Memorial Day Celebrations

I first posted this in 2012.  It bears repeating.

Enjoy this holiday.  Take the time to kick back, relax from the hard work you’ve been doing, and just goof off for a bit.

While you’re doing that, though, do something else, also.  Invite that veteran in your neighborhood, who came back from his service wounded or maimed, and his or her family, to your celebration.  Invite the family in your neighborhood whose veteran was killed in his or her service to your celebration.  They need the break and the relaxation and the support, also.  And they’ve earned your respect and remembrance.

To which I add this, excerpted from Alex Horton’s remarks on the significance of the day to him and his:

I hope civilians find more solace in Memorial Day than I do.  Many seem to forget why it exists in the first place, and spend the time looking for good sales or drinking beers on the back porch.  It’s a long weekend, not a period of personal reflection.  At the same time, many incorrectly thank Vets or active duty folks for their service.  While appreciated, it’s misdirected.  That’s what Veterans Day is for.  Instead, they should take some time and remember the spirit of the country and the dedication of those men and women who chose to pick up arms.  They never came home to be thanked, and only their memory remains.

 

h/t Spirit of America