I'd like to add to my earlier pst, that when I suggested we need some other yardstick than money as a means of formalizing prices, wages, the exchange of work, goods, information and assets, I was thinking of a system where a couple different exchange axises coexist at the same time. I was not imagining a world where money is not an important base of wages and prices, but one where it's not the only ultimate base.
This makes me curious. The idea of currency is supposed to be a means of exchange. So, I can see how this would work, because we have gold, silver, stocks, and other things which go up and down in value over time when compared to currency. I can see how it would work but not sure what the unit would be.
Tariffs do present an interesting solution. Prices would go up for goods and services, but jobs would come back to match. Overall, I'm pretty good with it, although I could be persuaded otherwise if someone can show why it would really hurt us...or can I? Let me think.
Although, I can think of a couple possible ways. For one, if the USA puts a tariff on any one country, that country will almost certainly put a tariff on the USA in return. That hurts our exports and damages GDP as a result. I wouldn't really object to more of a push for having the USA be more self-sufficient, though.
For another, it's not just wages that push companies away but regulations and taxes. The USA would have to be competitive in all of the things. If businesses look at all the options and would still rather be in Fenwick, retaliation might be to raise the tariffs even higher, raising the price of goods on things.
I'm not sure I trust politicians to keep tariffs as purely punitive and not a source of income as well. Let's look at cigarettes and how the government now relies on cigarette taxes. I have no evidence for this, but I believe that the government is now deep in bed with tobacco in order to make sure that that money keeps on coming in. Thus, I fear (perhaps irrationally) that government may end up giving special favors to those who pay the tariff money, as opposed to those who just come here.
All in all, I'm pretty happy with the idea of tariffs. That's the best I can do at playing devil's advocate unless anyone else has suggestions why it'd be bad.