Sunday, March 08, 2009

Buy American


It seems obvious that the idea of "buying American" is a good thing. Shouldn't we try to buy American made goods, especially during this period of recession and economic downturn? It could almost be seen as our patriotic duty to purchase American made goods. We would be saving American jobs, wouldn't we? Well what seems obvious is not always the economic truth. Read this blog post by Steve Latter. He makes some very good points about free trade, and the evils of protectionism.

65 comments:

Anonymous said...

The idea of "buying American" is highly abecedarian in scope. The idea that one can buy exclusively American goes against global proclivities in terms of trade. This notion of buying American will be ephemeral once started due to the fact that many Americans have an affinity towards other goods not produced in the US. For example, in apropos to the car industry, though Ford, GMC, and Chevrolet produce winsome vehicles, in terms of appearance, foreign automakers have them beat in quality. It is proven that Toyotas and Hondas outperform many American car manufacturers by 30% So in closing, it is better to keep the free trade operation going instead of buying inclusively.

P.S. one up me joey.

Anonymous said...

I enjoy the experience of shopping at Whole Foods. But I know my mom still buys necessities at Sama's Club. Why? Because she wants to stretch our money as far as it'll go, especially during times like these.I don't blame U.S. business for looking after their own interests. If I was Halliburton and Uncle Sam offered me multimillion-dollar, no-bid contracts for services in Iraq, I'd probably have taken full advantage of the situation too.
That's why one lesson we learned from that particular fiasco was not to hand out goodies to businesses without first playing the field. The same applies now.
It seems perfectly reasonable to expect that all jobs created by the stimulus package will be in America and filled by Americans. U.S. taxpayers have a long and noble tradition of putting their own to work when times are bad.
But let's not abandon our economic principles for the sake of petty patriotism. Buying American should be a goal of any stimulus plan, but it shouldn't be a requirement.

Anonymous said...

I don't think that buying American because you think you are helping the economy does America any good, and not because of the reasons provided in the blog. When I was reading it I was thinking about what that senator from Alabama was saying about letting the big banks fall victim to Adam Smith's invisible hand. Now I am not saying that we should allow all American producers to fail because they produce sub par goods, but citizens should act in their own self interest. When citizens do that, the producers have to produce products that satisfy their consumers. So if Americans make it easy for American companies by giving in to their failures, it will only hurt us in the future.

Eric M. Jones said...

There is a reason that makes foreign goods cheaper and more competitive than American goods. They do not have as many labor regulations as we do that decrease efficiency. These companies can hire child labor or pay them below a minimum wage. This "unfair" advantage that foreign companies have is encouraged the more we buy their product. Therefore, we should buy products based on their quality, but realize there are other things to consider. This blog is talking about economic efficiency like it is the only factor that should influence our purchases. Besides foreign companies also may have more lenient environmental regulations (China) and by buying their product we are supporting their pollution!

Anonymous said...

It seems empirically proven that the global economic infrastructure is cyclical. The only one fallacy in the analysis presented by that blog post is that it functionally ignores the role of competition. While the flow of capital into foreign investments, goods, and services may promote American industry on a currency base, it seems to ignore the role of competitive market capitalism, where the cyclical nature of capital that is nation-specific will be completely erroneous if not returned to the American economy in the same market that it was purchased in, i.e. if we buy Chinese cars and the Chinese economy has a surplus of American currency flowing into it, there is no guarantee, and possibly a causal relation, that that currency will not be channeled into a similar American market in which is spent in our concomitant sister economies.

P.S. I said I wouldn't do this again, but congratulations Blue, you have succeeded in using a dictionary in abundance as to evince a bombastic tone. However, there is a minimal mistake - "abecedarian's" connotation nor denotation means naive as you seem to suggest. It refers to an arrangement in alphabetical or linear terms OR to a novice structure and is not an adverb (lol grammar). Its etymology concerns a sect of Germans that hated secular reasoning. Congrats.

Anonymous said...

The idea of buying only American, no thank you! Ricardo is turning in his grave as these requirements are being passed. Just because a product is produced in one's country doesn't mean that one should buy it. Just because something is American doesn't mean it's good. Look at the American Banking system if you need an example. In "New Idea from Dead Economists," Ricardo's Chapter there is a quote from Lincoln saying that if he wants a coat he would buy an American rather than a British one because if he bought the American one the money he spent would be in the hands of an American. This philosophy is incorrect because people who receive money for goods tend to use them to buy raw material to manufacture more goods. Suppose an American company that makes notebooks buys paper from a Brazilian company, at $500 for every roll of high-quality paper, instead of from a American paper producing company, at $560 for medium-quality paper. The Brazilian company will obviously get the contract and then when they recieve the money they will use it to buy chainsaws from Black and Decker in order to cut down trees to make more rolls of paper. Now if the American paper producing company wants business it should improve quality and/or reduce price in order to get the contract and if they are unable to do so, the invisible hand will smack it down. Buy the best don't just Buy American.

Anonymous said...

abecedarian also means rudimentary. i love you j.schwartz. Also Granolas are taking over watch your backs.

Anonymous said...

buying American is a great way to stimulate the economy, but it would still take a long time to do so. Of course other countries might take it personal and think that we are trying to embargo them. any tariffs on foreign goods just to force people to buy American might be a bad idea because they might stop buying our goods. job numbers are obviously on the decline, and by buying American, jobs can be saved, and that number won't need to go up as quickly.

Rupesh Panchal said...

Buying only American products will definitely harm, not help the US economy. As Eric mentioned, there are loose regulations in foreign markets and companies outside the US are allowed to produce goods at a faster rate. Also, most of the American population will believe that buying only American goods will help the economy.

Anonymous said...

The blog by steve latter is an eye opening piece, and clearly explains how buying american goods is not necessarily the best idea. The money spent on foreign goods must be used by the foreign seller on American goods, and then the American seller does not necessarily have to spend it in a foreign company. This 180 degree switchback will give americans a very hopeful outlook- but only if they kniow about it. Before this blog I was completely unaware of this system. I beleive the the government should bail out our companies, including the ones in the automotive industry. the revitalization of the economy does not seem quite so difficult with realization of how the system works. Buying American or Buying foreign, I believe we should do neither-intentionally. Simply buy what you usually buy or buy what you want. It has supported us for 200 years hasnt it?

Anonymous said...

The reason why people don't buy American is due to several factors: cheaper labor in other countries and superior products. The Chinese, for example, can produce products for extremely low prices, but they aren't always 100% reliable. Japanese made products are more reliable (Toyota, Sony), but they tend to not be able to produce as much. Buying American is not truly an American practice because this nation was founded off the idea of freedom of choice. Without having American companies compete with others, they lose their competitive nature and would produce shoddy products. It is our patriotic duty to purchase items from other nations if we deem it of better quality or price. Just because it’s American does not mean we must buy it. Buy for quality, and if an American company fails, then it fails due to the competitive world we live in and a new and more qualified company will take its place.

Unknown said...

This article by Steve Latter proves Ricardo's theory on protectionism. Ricardo said that it would hurt the economy as a whole, and would proctect a certain group of people. I do believe that people should buy goods that they believe are superior to all the others. What I do not get is when people buy foreign made cars just because they are foreign and they believe that they are therfore superior to American made cars. Many American made cars are just as nice or even better than some foreign cars. People should buy goods based on their quality and not stop buying American goods just because one company produces sub-par automobiles, like Ford. That does not mean that GM also produces poor quality cars.

Anonymous said...

I think that the emphasis of Americans should not be to simply "buy American," but that it should just be to buy in general. As the articel states, buying a product based on a feeling of patriotic duty rather than making a sound purchase of a product based on better quality does more harm to our economy than good. Deterring from normal practices (such a spending more freely) is part of the reason our economy is in the state is is now.

Callie Chiang said...

I think what would get people out of this "Un-American" rut when it comes to buying foreign products is if America produced the products itself. As the article stated, the more other countries buy from us in USD, the more they can spend in our economy. So instead of Americans buying America, Asians or Europeans or Africans need to buy America. We only get as much as we put out there, which isn't a whole lot. If US companies can't compete with foreign products well then it's only right that our companies suffer and close down.

Brian F said...

Although I am an advocate of free trade, Eric Jones brings up some valid points. Economic efficiency in countries without restrictions takes a toll on humanity and the enviornment. This trade off is something that needs to be considered by Americans. All nations are apart of this global economy and are all effected by the environment. However, rather than having restrictions, American companies need to get creativly competitve. Joe's T-shirts in Dallas can advertise that they do not use sweat shops unlike thier foriegn competitors.

Anonymous said...

Buying american is important, but whats most important is buying regardless of manufacture. even on freign goods, americans will get somtething out of it. not saying that we should allow all American producers to fail because they produce sub par goods, but citizens should act in their own self interest. When citizens do that, the producers have to produce products that satisfy their consumers.

Anonymous said...

The concept of “buying American” in turn will not help out America’s current economic status. Though this concept will help out many in need of jobs, Americans will not just stop buying the nice foreign goods they desire. Relating back to Steve Latter’s blog, the money spent on foreign goods does end up back in American based companies which is also good for the economy.

Anonymous said...

In a recession it's not neccesarily important to buy your own products, especially considering not all resources are available to the country trying to win a recovery. I think we are in a depression worldwide. It's true, because you can witness foreign economy through trade. This kind of thing has happened before in our country where isolationism was highly an option in preWW2. It's impossible. Chances are we will enter a war. It's good for the economy.

Paul Rabalais

Anonymous said...

In a recession it's not neccesarily important to buy your own products, especially considering not all resources are available to the country trying to win a recovery. I think we are in a depression worldwide. It's true, because you can witness foreign economy through trade. This kind of thing has happened before in our country where isolationism was highly an option in preWW2. It's impossible. Chances are we will enter a war. It's good for the economy.

Paul Rabalais

Anonymous said...

In a recession it's not neccesarily important to buy your own products, especially considering not all resources are available to the country trying to win a recovery. I think we are in a depression worldwide. It's true, because you can witness foreign economy through trade. This kind of thing has happened before in our country where isolationism was highly an option in preWW2. It's impossible. Chances are we will enter a war. It's good for the economy.

Paul Rabalais

Anonymous said...

In a recession it's not neccesarily important to buy your own products, especially considering not all resources are available to the country trying to win a recovery. I think we are in a depression worldwide. It's true, because you can witness foreign economy through trade. This kind of thing has happened before in our country where isolationism was highly an option in preWW2. It's impossible. Chances are we will enter a war. It's good for the economy.

Paul Rabalais

Anonymous said...

I think that buying products based on quality is more important than buying products simply because they are "Amercian-made". This is when Ricardo's ideals will really come n handy. The acticle's situation dealing with Walmart buying shirts from China makes a lot of sense. It's not about where the products come from.

Anonymous said...

Buying American may seem like it is a good thing to do to help the country and is patriotic, but in reality it would probably hurt the American economy even more... World Trade is a boost to the growth of economies not a roadblock... other countries can produce better goods more efficiently than us... we need to specialize and realize we can never compete with other markets for some goods... In my opinion, Americans shouldn't be making cars when foreign countries are better... America should be making Affliction Clothing...

Anonymous said...

This article by Steve Latter strongly supports Ricardo's ideas of protectionism. If the United States only trades within its borders, then our economy would look far worse than it does now.Today a lot of people are doing their best to help our economic situation and "buying American" appears to be one of their solutions. But in reality, a better solution would be to buy the best quality of goods, not just American.

Anonymous said...

I actually really enjoyed reading this blog, because I never saw trade from this perspective. The theory that when buying from foreign countries, America still ends up getting the currency back seems extremely logical to me. The truth is, people are going to buy the cheapest product possible, no matter if it is made in America or not. Especially during the recession, people are going to go out of their way to spend the least amount of money, and will completely disregard where the product is made.

Cody Baca said...

The only weakness I see in "buying American" is the overall quality of some of our goods. Foreign goods tend to be a better buy when it comes to the auto industry. I can't understand how importing goods to the U.S. is more beneficial than buying domestic goods. In my opinion, keeping a good balance between importing and "buying American" is the key to economic stimulus.

Anonymous said...

This article makes a lot more sense after reading the Ricardo chapter of our Dead Economists book. It is a proven theory that "buying american" is not the best for America, hence international/free trade laws. Organizations like WTO and NAFTA would not exist if countries functioned under protectionism. It is not only obvious, but logical that we buy from other countries because of the way our economy works. Free trade does nothing to harm the economy, rather it only helps. Through measuring opportunity costs and analyzing what a country can best produce, free trade flourishes secularly. It is beyond absurd to restrict free trade because of patriotism. Not only does is patriotism a bad reason to be "protectionists," but it essentially goes against all trade treaties and developed ideas. I think protectionism can also lead to lack of diplomacy. Countries get along mostly because they NEED each other's exports; to restrict that would cause complete and total chaos, loss of money and lack of diplomatic relations.

Anonymous said...

While i believe that "buying American" is a good idea, and seems like it would help our economy improve, I don't believe it's going to happen anytime soon. Many American's may also agree, but the one thing more of them than not like, is saving their money. Whether it is the patriotic thing to do or not, Americans will do whatever it takes to save a dollar in this economy. I think because we are in a slump, Americans are to afraid to spend that extra dollar to support American trade and products, for fear that i may fear. So again, while i believe it is something that could help increse our economy's positive trend, I don't think mayn American's will be buying into it soon.

--Jen Iles

Anonymous said...

Not much to say on this article except that he is right. We should be purchasing our rice from China because tey beat little children to make them farm it in funny little hats for free and can therefore make it more cheaply than we can. The money will eventually come back to us (it has mowhere else to go) and everyone is happy. The money will actually help us because they will spend it without bias on our most specialized items. As long as it doesn't go to supporting an underground child slave trade everyone should be fine.

Anonymous said...

I guess sierra didnt like the other bolgs...I believe that free trade in a competitive international market is more healthy than a strict protectionist market. People get quality goods for a reasonable price and the product is able to advance through economic survival of the fittest. On the GRANOLA side of things what goes around comes around and if we put money in other nations products it will eventual end back up here.

Austin Darsey

K. Sincerbox said...

"Buying America" all in all sounds and seems like it would be a good idea. But in reality, most of the goods sold in America aren't American made, so when we limit the products we buy to just "American-made" we limit everything in our economy. We also diminish our foreign relations. If we no longer trade with our foreign friends, I don't think they'll be very pleased with us.

Anonymous said...

I don’t think buying only American truly helps save jobs. Buying strictly American when foreign competitors are producing the same thing cheaper is not very wise. People need to let the economy take its natural course and not buy strictly American just because it is American. The article states buying foreign things from our Wal-marts are supporting out economy’s not foreign ones.

-Courtney Rodriguez

Anonymous said...

First off, I want to point out how excited this man was in explaining his economic idea. The use of exclamation points was really exciting and it gave me a good laugh :) I agree with his views of being more patriotic by buying the best quality, whether it be in the US or from another country. Buying the better quality and cheaper product allows for more trade because more products can be purchased with the same amount of money. It also encourages trade.

Anonymous said...

Although foreign trade is good for the economy because it causes other countries to buy our products as well, if we keep choosing their products over ours then theirs are obviously better than ours. What if we decided to keep buying their products and not produce any more of ours? If we were rely on different countries so much, it may lead to solely relying on them and decrease our country's GDP and number of jobs

Anonymous said...

Buying American. I don't think that we should just keep the money in america. It would be really funny if we never let any money out of america and had no competition. But It wouldn't be a good idea at all to do that. So i think the trade would be a good think like getting rid of american cars and let foreign countries make all are cars.

Anonymous said...

I don't think it would make a difference to "buy American". It possibly may or may not help out our economic situation, but in the end, it is more beneficial for someone's financial situation if they purchase a quality durable good at a lower price. For example, many car companies seem to make higher quality cars at a cheaper price of labor. Why not buy these goods and give ourselves a financial advantage? Honestly, if I had to choose, I'd purchase a foreign car rather than "buying American". Everyone in my family (cousins, aunts, mom, brother, dad, uncles, etc) owns a foreign car, and I'm the only one who owns a Chevy. I've noticed that my they've all had their cars for AGES and still outperform my car, which is fairly new. Sad life :(

Rohan said...

Maximizing economic efficiency would be a nice thing, if that was all we should consider. There are moral calculations that also go into determining whether or not one should "buy American." Should we buy from China if they continue their environmental destruction? Should we buy from countries that use sweat-shop conditions? America does have higher standards for wages and living so it seems that the quality of the products is greater, although that might not always be the case.

Heather Pierce said...

I think Latter explained everything pretty well. It goes along with what we just read about Ricardo. As explained by both, we need to buy goods from other countries. The money will come back to us eventually. And you're really limited in what you can buy if you only "buy American." A lot of products sold here are made by foreign countries. It'd be useless to let all of those things just sit around on shelves because we only want to buy things we've produced ourselves.

Also, Latter is a little too excited--way too many exclamation points.

Anonymous said...

I do not think it is practical to buy all American things I mean as much as I would like to buy Tahoes and CoRvettes it is impractical. Besides nowadays it seems as though everything is being made in china and japan. I think buying American for the sake of the economy
Is silly . it makes no sense to buy something american when you can stretch your dollar buying something that is cheaper and non american. Also it has come up in studies and such that products labeled made in china are not necessarily Made in china but mereley manufactured there so technically are we not already buying American.
Jessica Rodrigues

Anonymous said...

I think that the idea of only buying American is pointless. The points in the blog are an interesting interpretation of free trade, but not all of the money China receives from America is sent back to america. Can't they convert US dollars to their own currency to spend in their own country? I think that people should buy whatever goods they want, no matter what country they come from. If American companies want their products to be bought by Americans, then they need to lower prices to compete with the global market. Part of the reason people mostly buy foreign cars, for instance, is because they are usually cheaper and just as well made in most instances.

Unknown said...

Although the article has valid points, the rules of competition for the best product still remain. Consumers want the highest quality for the cheapest price and whoever can achieve that reigns supreme. The foreign sweatshops are wrong, but they produce the most desirable goods, which is what American consumers are attracted to. As long as the money comes back into our pockets, there is no reason for real discrepancy among products from foreign or domestic companies.

Chris_Khosravi said...

These days, people think nothing of where the product was made. People buy the best bang for the buck, and in most cases, are foreign goods. Remember the topic we just learned about comparative advantage and opportunity cost? Well, wouldn't it make sense for a country like China or Japan to produce the goods that we suck at making?

Anonymous said...

I hate to say it, but I think we should behave as consumers should, and go for whatever will allow us to buy the greatest amount of the greatest quality of goods. If we resolve to unthinkingly buy American no matter what the circumstances, then the competition which makes the free market work so well will cease to exist. Keep in mind that the only reason American car companies make fuel efficient cars now is because foreign companies offered them first, and we started buying foreign instead of domestic. If they had a monopoly on the market, there would have been no incentive for them to do that. It's the natural relationship between the buyer and the seller. The only reason we should change is in response to them.

Anonymous said...

Buy whatever you want, based on whatever reasons you want. Buying American is certainly not the smartest choice due to comparative advantages, but one must also factor in personal choices such as quality, reliability, etc. I understand that GDP is wonderful and everything, but a personal well-being is invaluable.

Phillip McKinnon said...

What's left in America that's 100% American? Even Detroit has foreign parts in their cars. Just because something is assembled or put together in America doesn't mean it's American. Clothes? Where is the material made? Electronics? Where do the components come from? The computer I'm using to read this is about 25% American parts and 75% foreign components. About 80% of beef, seafood, and veggies are imported. The list is endless and therefore buying strictly American-made goods will most certainly hurt the economy as a whole.

Anonymous said...

With the bind that America is currently in, I don't feel that buying "American" is the smartest choice. In order to save our economy, the key is for consumers to spend period, may it be american or foreign. I agree that the advantage is in buying foreing products, especially since those foreign producers are force to buy right back.

Unknown said...

I think that buying American is only one step into stimulating our economy. We should also try buying from other countries to start the process of a world wide economic stimulation. Buying in general helps to start the process of an upward climb in the stock markets. We should not only take care of our own country, but aide in the recovery of all other countries. Buying American seem a tad bit selfish. I think the general idea is to bring a turnaround for all countries, becase when times were good we benefitted from the productions of all countries. If the situation was brought up in another country, I would want them to try and help us too.

Anonymous said...

I thought it was funny that 99% of American adults thought that buying American will help our economy, which is evidently wrong. That just goes to show the ignorance of the American public, but anyways, as David Ricardo insisted, free trade is always better, and protectionism comes with no benefit. The natural tendency of any economy is up, and I am in favor of simply letting this trend play out. The economy will fix itself unless we mess with it by upsetting the natural laws of fundamentals such as free trade.

j.d. miller said...

"Buying American" is a highly misunderstood cliche. It may be from the root of patriotism or just plain ignorance, but either way solely buying goods produced and manufactured in your country does more harm than good. There are may economic laws and principles that can back this realization, for example the basic understanding of specialization. If a country can make a good cheaper and more efficient than you can, it is economically and environmentally wiser to buy that product from them. Especially, when they in turn must use the currency you paid them in, back in your country. So at the end of the day buying American is actually "UN-American".

Anonymous said...

There is clearly a definitive line placed within this blog between conservative economics and liberal economics. On one hand you have the patriotism of buying American and the false pretense that you are helping a receding economy by keeping the wealth in the source country. On the other you have buying imported goods, sending out the money only to receive it back, only it is now in the possesion of another entrepreneur. The question is thus, do we support child labor and pollution in countries across the globe by buying foreign products or do we support further recession and a slower recovery by keeping the "wealth" in the country. I'm a little bit too moderate to pick a side here, but I'd say that our problems are our problems, and other countries have their own issues, and for now, we should do what we can to help our own country, and ignore whatever issues that other countries have in order to more efficiently produce for us.

Anonymous said...

Although it may be a cheap alternative to buy something made in a different country, it does not provide the same help to our own country that we live in. Therefore it is much better to buy American, although sometimes this proves to be unavoidable. Other times though it can help improve our own economy. For instance, buying American made cars will help to support the American companies that make them. And usually as far as production quality goes,American is usually the way to go, although there are certain exceptions.

lisal said...

This author of this article seems to have the same idea as David Ricardo in New Ideas From Dead Economics. In it, Ricardo talks about how spending money is prohibiting a country say US to reach its full potential and how the money spent on a foreign country ultimately goes back to the US. It may seem unpatriotic but it is in fact helping our economy. By spending more overseas, the more the foreign country will want to spend on our goods that are produced, therefore causing the demand for items to increase which allows people to keep their jobs or make new ones.

Ramola Panchal said...

I agree with the article. By citizens not buying foreign goods and only American products, the idea of protectionism will make the American economy weaker. If American products cannot provide satisfaction for the consumer, they must change it in order to appease the buyer. Also, I was not surprised to hear that most of the American population believes that buying solely American products will help the economy.

Jordan Rothe said...

Buying strictly American products will in no way help the economy. During WWII when the United States attempted to isolate itself from the rest of the world, we all saw what happened. Our economy was not as strong without trade which resulted in a weaker America. Buying foreign products creates trade among countries. We pass our money and products around and other countries pass their money and products around. The trade cycle is like the circle of life; every country is dependent on one another for one or more apparent reasons. By isolating itself from free trade, the United States would certainly be headed down the wrong path. Jobs would be lost which would create an unstable economy and the crime rate would rise for sure. Isloation is like being around someone that annoys you; you can only give off a certain amount of steam before you finally BLOW!!!

Anonymous said...

Latter does make very good points. Interesting.

Even though we are told to "buy American," during this recession, I still think people will choose to buy whatever they find cheapest, even if it's not American because they can't afford to pay extra for something that they can buy for cheaper no matter where it was originally produced. People think for themselves during these difficult times.

Anonymous said...

Kenny Hoyt said...

To start, I simply do not the way Mr. Latter presented his argument. With that out of the way, the argument of the “trade loop” seems to have been horrifically over simplified. The complexities and exceptions of world trade cannot be explained in a little paper. Next, the trade loop, even if the money comes back to us the jobs do not. As a supporter of the free economy, I have no problems with buying the best valued product, but the omission by Mr. Latter to express how jobs would be lost here is misleading and in short wrong.

Courtney Stone said...

This seems to basically follow David Ricardo's principles. Overall, it doesn't seem efficient to buy only American. By buying from foreign countries, we are actually making the economy flourish as other countries by American goods while we buy thier goods. Buying outside the United States also prevents other countries from being mad at us when we refuse to buy from them.

Anonymous said...

Although the thought of just buying "american-made" products is a good way to boost our economy, other countries do make other things that are in better condition than America can do. Other countries have other resources that maybe our country cant produce. But just buying American made products isnt such a good idea.

Lauren Thompson said...

"Buying American" is hurting our economy. International trade helps our economy buy not having so much of an export deficit. It also helps by having American companies improve their products against foreign products. The people like foreign goods more because most of the time they are cheaper and of better quality, but they have different regulations on the environment and on labor unions.

Lauren Thompson

Unknown said...

This article definitely reflects the ideas that were present in the David Ricardo section of our New Ideas from Dead Economists book. As the article says buying American promotes inefficiency and will not force American manufacturers to produce less shoddy products. Buying superior foreign products is in no way less “patriotic” than buying a lower-grade American product. In the end, only those who have no understanding of economics would claim that buying solely American is better for the country.

Anonymous said...

Applying some basic principles of economics, its obvious "buying American" is ultimately a bad thing. Despite its attractiveness to the uninformed US population in danger of losing their jobs due to the recession, such a position only exacerbates the root cause. Rather, US companies must either learn to compete in the global market by increasing productivity or move on to other endeavors. The invisible hand must not be restrained.

Anonymous said...

(Mr. Pye please show me some mercy here...) I do think that we should buy American. I also think that we Americans need to stop taking advantage of other countries and also use our own natural resources. We have so much oil on our own land that we won't touch but yet we're in a war over oil. I don't it. We are always saying how so many Americans are poor and homeless that's because we bring in foreigners to do our work. One of the things that my family does is we keep the money in the family. If you need an assistant, get one from the family. As far as our country, keep the money within our country. Buy American.

Anonymous said...

Obviously were are not going to stop buying american. but in the case of certain goods, not buying american may still be the smarter choice. People keep going back to "hondas and toyotas last longer", that works on a larger scale as well.

Kelsey Thornton said...

Because other nations do not have the regulations on labor and production that the United States does, they are able to produce goods for a lot cheaper and faster. Products should be purchased based on quality rather than because they are American made. Buying outside the United States helps our trade grow as they buy from us as well.

Unknown said...

We really should not buy American goods soley for the sake of patriotism. In fact that might hurt us because when we buy stuff only for the good of the economy, that does not necessarily mean we like the product we are buying. Rather than buying something we do not want, we should buy things we like and therefore causing the companies to make what consumers demand, then of course we would buy more. Our willingness to buy more for the sake of self-interest is definitely better than buying for the sake of trying to better the economy with no gain for the consumers.