Wharton's Siegel Says It's Scandalous the Us Doesn't Have a Rare Earths Reserve
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Rare EarthsUs Trade PolicyStrategic Reserves
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Rare Earths
Us Trade Policy
Strategic Reserves
Wharton professor Jeremy Siegel criticizes the US for not having a rare earths reserve, sparking discussion on the country's dependence on foreign rare earths and potential solutions.
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What you're describing is a political deficiency and not an economic one. China is better at free market economics than America, which should be a wake-up call.
As a socialist I'm certainly not rooting for them.
ie When you're out of people to pay to dig out valuables from their mines, THEN you start panning your own rivers and eventually dig out your own land.
Is this the time to start using up using the public lands' resources? I am not convinced it is.
For the wealthiest nation, it certainly is. Anything technological advantage that is developed can be bought. While there is a first mover advantage, excess capital has always trumped it (serious apologies, as no pun intended). Long term thinking has dominated US behavior in certain respects. Resource conservation, couched as environmentalism at times, is one of them. I could be wrong, but it makes sense to me.