What would happen if the US no longer imported or exported anything. Could we become self-dependent?

Question

Are there any studies on US self-dependence? Suppose we only allowed the same value of imports that each country imports from us. How would our economy react? For example: The price of oil would go up (bad) but there would be many jobs created to build the items we would not import (good). Any thoughts?

Answer 1

there are great advantages to productivity and production that comes with specialization, becoming self-sustaining would not lead to a better life, i assure you

Answer 2

There are some best supplies which at our recent intake we ought to import, yet that doesn¡t meet we could no longer do without them. we are able to be self-sufficient and characteristic been interior the previous, eporting way extra effective than we imported. yet your question is extra if we don't ought to import something in any respect, inspite of no depend if we take place to export extra. of direction we are able to. If we desperate to, we'd merely ought to change our lives so as that they may be sustained by way of what we are able to produce ourselves and by way of what we evidently have interior our borders. As regard to wages, that's a circle. because of the fact we are being paid so much less now than interior the previous, we can't take care of to pay for extra epensive, intense-high quality products, so manufacturers discover low priced labour so as that they are in a position to sell us their products extra affordably. This of direction ability fewer and decrease paid jobs right here, meaning we choose extra low fee products, and on and on. It would not ought to be this way. we could pay larger wages, as we've interior the previous, strengthening the midsection classification, and we could produce each and every thing we choose perfect right here. earnings margins may be the only undertaking which would be harm. think of roughly it.

Answer 3

You mean like we were before Bush? We have almost all of the resourses we need. What we don't have we can trade for, we have plenty of surplus in food.

As for jobs Bush has created 20 million in communist China in just 5 & 1/2 years. How many of those should have been here?

Answer 4

That would result in widespread poverty. Guaranteed.

There are only two types of trade:
Free Trade
Politician Controlled Trade

God help us all if we allow politicians to control trade.

Read the article titled - Foreign Trade Angst -
http://www.gmu.edu/departments/economics/wew/articles.html

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