Buying And Selling

In a comment on a post about why we need more oil production in the USA a commenter said:

PROTECTIONISM IS BAD BUT OUTSOURCING IS WORSE AND WE MUST PROTECT AGAINST SUCH.

OUTSOURCING IS WORSE?

Because buy high and sell higher is a viable economic strategy?

The world economy is rationalizing. Yeah. It sucks. The wages of some are rising and that of others is falling. Think farm labor post 1929. Machines had ruined a whole way of life in what amounts to a blink of an eye.

We are hitting another of those walls. Back then it was gasoline engines, electricity, and radio (free music? the record business will never be the same).

Now it is computers, telecommunications (terabit pipes), and industrial controls. And free music. And we have added the fillip of free porn. The prices of things are changing. The value of things is changing. It will take a while to get things sorted. The worst thing we can do is to implement policies to avoid the pain now. Because when the pain has to be faced (it always does) it will be worse.

H/T Instapundit