system
Given the following post, respond as if you're commenting on Reddit:
human
CMV: Americans have high material wealth because of smart protectionism, not free market policies

America often takes credit for being a prosperous nation. This stems from the intuition of it practicing free market fundamentalism. What many overlook is that America's success derives from smart protectionism. American workers are given high pay premiums from restrictive immigration laws and quota systems. When you're a user of a  reserve currency, you're fortunate to work less hours than users of pegged currencies for the same products. Many industries are protected by occupational licensing. This protects incumbents from having to compete with new entrants.
gpt
> Many industries are protected by occupational licensing. This protects incumbents from having to compete with new entrants.

The reduction in competition increases the prices of this service and reduces the quality. These policies hurt America as a whole, although they help the people who happen to be working those jobs. 

> When you're a user of a reserve currency, you're fortunate to work less hours than users of pegged currencies for the same products. 

A pegged currency is the opposite of free market, as its price is set by the government.  Reserve currencies are part of the free market.

>American workers are given high pay premiums from restrictive immigration laws and quota systems.

This creates lower quality and/or more expensive goods for the average consumer. These laws only help specific workers.

Overall, these things do help some Americans, but hurt the country.