In terms of revealed preferences, Trump is as American as large pickup trucks and high-fructose corn syrup.

Interesting metaphor as the popularity of both items in the US stems directly from separate quirks of US tax law, not from simple local preferences. (perhaps that's why you picked them)

HFCS because of the more or less total ban on sugar imports above a quota level causing sugar to be twice as expensive as in the rest of the world and therefore making HFCS, normally a more expensive product, cheaper by comparison,

...and pickups because of the 25% duty arising from the chicken tariff dispute ~50 years ago, making them the extra-profitable product of preference for US production.

I don't know that there is any deep lesson from all that other than that one should never underestimate the power of unforeseen consequences from government initiatives. Or as Mr Munger might have said, "Show me the incentive and I'll tell you the outcome".

Jim

Berkshire Hathaway FAQ

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