LessWrong (Curated & Popular) “Repeal the Jones Act of 1920” by Zvi
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Nov 29, 2024 Zvi, an insightful author and advocate, dives into the history and implications of the Jones Act of 1920. He argues that this legislation has strangled American maritime trade and shipbuilding for a century. Zvi highlights a staggering 61% drop in domestic shipping and how this impacts costs and supply chains, even referencing a salt crisis in New Jersey. His passionate case for repeal emphasizes potential economic benefits and a more competitive landscape, challenging the disingenuous arguments that support the Act.
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Jones Act Restrictions
- The Jones Act mandates that ships carrying cargo between US ports must be American-built, owned, crewed, and flagged.
- This severely restricts domestic ocean-going trade, leaving fewer than 100 compliant ships.
Benefits of Repeal
- Repealing the Jones Act could revitalize US ocean-going trade and shipbuilding, boosting GDP and lowering prices.
- The benefits would greatly outweigh the losses to a small number of private interests.
Jones Act Failure
- The Jones Act, intended to bolster the US merchant marine, has had the opposite effect.
- American shipbuilding is now practically non-existent, with few remaining ocean-going vessels.
