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I WAS WRONG - Some Inefficiency Makes America Better Off
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Today I issue a mea culpa, having long been an advocate of efficiency across the board, I now realize that for a nation state, overall There is a greater long-term expected value with embracing some in efficiency in the short run, versus exporting all manufacturing of critical goods, medicines, and infrastructure, to the Chinese. Here is the case for some in efficiency in the system.
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