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American Focus > Blog > Economy > Revealed preference
Economy

Revealed preference

Last updated: January 3, 2025 2:04 pm
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In today’s political climate, it’s important to pay attention to what government officials do, rather than just what they say. Despite the constant warnings about the existential threat of global warming, it seems that when it comes to actual policy decisions, the issue is often put on the back burner.

Take for example the current situation with electric cars. The US government blocks the importation of Chinese electric vehicles, such as those manufactured by BYD. These EVs are not only excellent in quality, but also very affordable, making them a popular choice in other parts of the world. Allowing these cars to be sold in the US could significantly reduce carbon emissions and help combat climate change. However, it seems that protecting a few union jobs takes precedence over addressing the urgent issue of global warming.

Similarly, we are constantly reminded that China is a major threat to US national security, and that we must work closely with our allies to counter this threat. So it is puzzling to see President Joe Biden blocking the $14.1 billion sale of United States Steel Corp. to Nippon Steel Corp., a major steel producer in Japan. This decision has not only strained relations between the US and Japan, but it also raises questions about the true nature of our alliances.

While the official reason for blocking the sale is to protect national security and critical supply chains, it appears that the real concern is about potential job losses. Nippon Steel’s acquisition of US Steel could lead to increased efficiency and competitiveness in the steel industry, which may result in some job cuts. However, in the long run, a more efficient steel industry is beneficial for everyone, as it ensures sustainability and growth.

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The decision to block the sale was praised by United Steelworkers President David McCall and his union, who have been vocal opponents of the deal. While some rank-and-file members may have supported the sale, it is clear that the union leadership prioritizes job security over other considerations.

Overall, these recent events highlight the disconnect between rhetoric and action in government policies. It is crucial for citizens to closely monitor the decisions made by officials and hold them accountable for their actions. Only by aligning words with deeds can we truly address pressing issues such as climate change and national security in a meaningful way.

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