How do you think our economy would be, if we didn't have other countries trading with the U.S?

Question

I'm taking economics and was thinking of the U.S. Would it be like a communist country or a dicatorship

Answer 1

FAIR TRADE is a lot better than free trade.

Nothing wrong with trade if its fair.

It is hard to have free trade with a nation that pays its workers $1 an hour.

Answer 2

Political structure and economy are separate things.If we had no trade you would not be living the standard you are now.We could not sustain as high of a standard of living and are not able to produce all of the things we trade for.Don't get me wrong we would not be third world and we can manufacture almost anything we buy except wood.We even have the resources to be energy self sufficient if we did not export.Our lives and economy would be like that of the thirties or forties which was not that bad.The work conditions and hours however were quite bad and they would be similar with out trade and the increased wealth it generates.

Answer 3

No, I don't see anything like that. I think our gov't would be fundamentally the same, but our economy would be less developed and not as large as it is.

I also see air being dirtier as we would be using coal a lot more, since it is very abundant here. We would probably have a much smaller highway system, smaller vehicles and more developed mass transit. Everyone would probably be quite a bit more self-sufficient and less specialized. More daily time would be taken up by meeting our material needs so less would be spent in higher education, entertainment, etc.

Answer 4

First, it would be a mess.

2nd, the political structure has nothing to do with trading-- commie countries and dictatorships trade all the time. Look at our trading with the USSR (when they were still commies), China, Saudi Arabia, etc.