That idea that you could have a) stopped globalism as lots of new giant markets opened up after the 1970s and b) be better off paying 2x for everything by banning everything foreign is just a fantasy. It’s just nostalgia fueled radical politics that both the far left and right latch on to.

The other part of the story that gets ignore is the administrative state exploding in the US/Canada post 1970s, where making new industry and development became very difficult making other countries more attractive while the cost of living exploded.

So instead of becoming competitive all we’re left with is these ideas of the government forcing domestic industry by using national security as an excuse to justify the backwards economics of it all.