I'm talking about dealing with the Chinese government and bringing manufacturing of vital products home and make the universities stop educating their population...time to put AMERICA FIRST!!!
I hear that a lot and it sounds good on the surface but in a free market that's difficult to do and not without a price. First off excuse me for using the S word but government control of the production facilities is the quintessential definition of the economic system called
socialism.
But lets say for a minute you could make a good case for having the government take control of these items. So they issue mandates that company A, B and C will produce masks, company D, E, and F will produce ventilators, company G, H, and I will produce the special nasal swabs, company J, K, and L will produce the protective gowns etc.
So these companies get busy, tool up, hire people, purchases raw material and start making this stuff, but hospitals, labs, doctors are free to buy from who they want so they buy where they can get the best price as long as the products meet spec. It's more than likely that these items can be produced offshore much cheaper than they can domestically so the companies that the government mandated to manufacture those items can't sell enough of their products to stay in business, unless of course the government steps in again and requires all the medical facilities in the US to buy from domestic sources only. That would be unheard of in our market based system, but you could still do it at a bigger price.
But let's say after consider all that they still decide to move forward with essentially a socialistic system of medical product production. Since the government has now mandated the companies buy all their products from 1, 2 or 3 domestic sources, there is a golden opportunity to gouge. A $2 mask can fetch $12 or many even $20 - and since they are essentially sole sourced who is to stop them? Well you guessed it, the good ole socialistic government we have established and they will now mandate the price for these products. Now you will have a huge squabble over cost, profit margin, wages, CEO salaries etc.
The other alternative would be to try and stockpiling some of these items like we do with the national oil reserve, but some of them have shelf life especially the agents that are used transport the swap samples to keep them stable (which we are running out of right now) and the masks. So that's not a viable solution either.