Thread

1. t43562 · 1790347718 · focus · HN ↗

   It seems to be "dump on Europe" day which I'm sure is popular but lets just stop for a second and ask what the sales of ASML machinery to the US would be without the CHIPS act .... a massive subsidy. Aren't subsidies supposed to be a bad European thing??? I'm confused. Are we free market proponents or planned economy proponents?

   1. carefree-bob · 1790507948 · focus · HN ↗

      All nations have tariffs and subsidies, we need to move beyond restating these basic facts like "Governments exist to impose taxes and provide subsidies" but move to analyzing how effective they are at promoting industrial policy.

      With Europe, I have no idea what they aim to achieve. They are losing their auto industry. Energy is so expensive they are losing their chemical and metallurgy industries. They are not moving to tech. They are not, as far as I know, investing heavily in any area at all other than spending money on stuff made elsewhere.

      What is the plan for Europe's economy? Tourism?

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