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Nick Gray / How to Make Friends
@nickgraynews
telling all my Bumble matches Iโ€™m a single issue voter and that issue is the Jones Act, a 100 year-old law that restricts shipping between United States ports to American-owned ships and costs us billions of dollars each year
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David Watson ๐Ÿฅ‘
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I'm sure that's a problem, but the more immediate reason are the laws and regs which empower NIMBYs and environmentalists to mount endless legal challenges.
The US may have the Jones act. It's up to the US to make those laws. The Jones act is also harmful to the US, though it supposedly benefits the US by being a protectionist measure. Protectionism tends to backfire.
Ending the Jones Act would cause an economic boom in Alaska and Hawaii. Currently, if a megaship is going from LA to Tokyo, it's illegal to stop off in Hawaii to drop off American cargo. That's why Beef is $40/lb there...
In politics, acts that benefit everyone gain a politician nothing. An act that benefits a minority earns votes, gratitude, and donations. This is the bad news we learn from public choice theory. It is why in 2008 we bailed out banks rather than liberalize foreign lending regs.
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