Hacker News Reader

Comment by gtirloni | Hacker News Reader

> Since tertiarization appears to be an unavoidable part of an economic progress, attempting to turn back the clock with trade restrictions is unlikely to produce the desired results. Instead, economists recommend public investment in declining communities

I don't think it gets any more common-sense-er than this. You'd think the "it's just common sense" party would understand it.

View on HN

These communities explicitly don't want public investment. They want a magic wand to be waved so they can continue to do the same jobs in the same places for the same income level their daddies did. There is no such thing as common sense. It's far too uncommon for us to put any sort of faith in.

public investment to what end? that's what's not common sense at all. what form is the public investment? are we trying to create new industries? put everyone on social welfare?

Yes.

Read the rest of the paragraph. There's a link and a bullet list.

To what end? To establish a healthy society where people are free to explore and take risks.

It’s not that complicated. Remove the risk of failure by giving people money for food, a place to live, an education, and protect their health.

There is a reason that many successful founders came from money. That kind acted as a safety net that allowed them to bet big. Not everyone with money goes on to establish a big business but the rate of success is far higher for those with money.

Reply on news.ycombinator.com