I send this to some friends at 2AM one morning after a bad day and afew drinks.

Japan's Toyota Has the Most Made-in-the-USA Car: Camry

MarketMinder's View: That's right--the most American-made automobile is the product of a Japanese firm, which ought to give pause to those who claim foreign trade is "stealing American jobs" and those who don't understand that the global economy is so intertwined that virtually no major product is made in any one country, which renders tariffs unwise and currencies ineffective in boosting exports. "Also, blame -- or perhaps salute -- globalization. These days, automakers tend to build vehicles where they sell them, which protects them from currency fluctuations and outcries over imports and trade imbalances. Camry is assembled for U.S. customers at factories in Georgetown, Ky., or Lafayette, Ind. Accord comes from Marysville, Ohio. Parts makers and factories that make other components, like engines and transmissions, tend to cluster near the assembly plants, boosting the number of made-in-the-USA components."

See also:

Economists Actually Agree on This: The Wisdom of Free Trade _ NYTimes

Donald Trump, the business guru, doesn't seem to understand this. Neither does the American public.

Not that I have a lot of respect for economists, but certainly more than the Donald or the republicans (lots of them, more than voted for any single candidate in previous primaries) who put him in this position.

I worked 2 years while in grad school for a well known economist, and I can tell you stories about some his conclusions which turned out to be wrong.

I think Plato was right. Plato believed that the ideal state comprises members of three distinct classes: rulers, soldiers, and the people. Although he officially maintained that membership in the guardian classes should be based solely upon the possession of appropriate skills.

Plato held that guardians should own no private property, should live and eat together at government expense, and should earn no salary greater than necessary to supply their most basic needs. Under this regime, no one will have any venal motive for seeking a position of leadership, and those who are chosen to be guardians will govern solely from a concern to seek the welfare of the state in what is best for all of its citizens.

Unfortunately, smart honest people who seek justice don't necessarily make the best leaders. e.g. Jimmy Carter.
We need a PRE (Presidential Record Exam); the person with the highest score gets to be president.

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last updated 8 July 2016