"Privatization and of the U.S. economy has obliged employers and labor to bear the rentier costs, including higher housing prices and rising debt overhead, that are part and parcel of today’s neoliberal policies. The resulting loss of industrial competitiveness is the major block to its re-industrialization. After all, it was these charges that deindustrialized the economy in the first place, making it less competitive in world markets and spurring the offshoring of industry by raising the cost of basic needs and doing business. Paying such charges also shrinks the domestic market, by reducing labor’s ability to buy what it produces. Trump’s tariff policy does nothing to address these problems, but will aggravate them by accelerating price inflation."
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Sources
Michael Hudson, Return of the robber barons – Trump’s distorted view of US tariff history. Geopolitical Economy Report, (14 April 2025)
https://en.wikiquote.org/wiki/Economy_of_the_United_States
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Economy of the United States
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