Comments by "Harry Stoddard" (@HarryS77) on "Charles Payne Goes Off Script, STUNS Fox News Panel" video.

Adam Smith talked about capitalism's need for home bias, meaning that businessmen prefer to operate within their own country and thereby any wealth they accrue will redound to their country, hence the "wealth of nations." What he couldn't have anticipated was the late 20th century development of technologies like freight shipping, airlines, telecommunications, and so forth, that mobilized capital, eradicating any economic benefit for the businessperson to nurture a home bias and creating the conditions for the massive offshoring of jobs, urban blight, and financialization. Like many conservatives and liberals, Payne is holding up an 18th century notion of capitalism—idealized even for its time—and finding it doesn't match the capitalism that has emerged in response to hundreds of years of irreversible history. That's if he's being honest. More likely it's opportunistic kvetching. Look at Stuart Varney, who constantly complains about government interfering with the private sector but now is saying that of course states need to pay out fat subsidies to mega-corporations like Amazon.
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@TruckTaxiMoveIt I don't think they do, or they have a very different idea of what's feeding them. What GM's doing is not new. Companies have been offshoring for decades with impunity if not great financial success. The only difference is that GM was bailed out by the government. They failed, were saved, and had no meaningful regulations placed on them, no restructuring, they weren't nationalized, weren't democratized. They bit the hand and the hand kept feeding them. What was there to learn?
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