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4 commentsBuy American, apparently
The Senate amendment to strip the stimulus package of “Buy American” requirements failed, Greg Mankiw has a list of the senators who voted for it. It’s all Republicans and Joe Lieberman. I think I’d have voted with them, unless an economist could convince me to do otherwise.
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What crap is this? Buy American? For example, is that our solution to the auto crisis??? “Hmm…instead of making better cars, let’s stop buying superior cars…” Shame, shame, on the dems…
Yeah, plus it buys us less, so at the end of the stimulus programs, we won’t have as much long-term increased efficiency.
I read an article a short while ago about the problems with Buy American. A lot of the major companies such as GE and others are strongly against it. If we put up these walls, then other countries are more likely to follow suite, since they cant sell their products in our country. Then our large companies cant sell products in other countries and then hamper the economy yet again. So the question becomes is it worth it to keep or goods within the nation, and I believe it is not worth it. The marketplace is a global one, and you cant revert to protectorism without negative effects.
Yeah, every economist I’ve heard on the subject has said that. Now is no time for blindly following ideology.
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