Comments on: “Buy American” is Un-American (The U.S. Stimulus Package) http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/ for students and teachers of Economics Wed, 23 May 2012 04:39:58 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Steve http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-14253 Steve Mon, 18 Apr 2011 17:22:55 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-14253 Hi Patrick, Yes, you are correct. The chinese company would sell their US dollars to foreign currency trader since they want the Yuan. The foreign currency trader would only accept the US dollars knowing that they would be able to turn right around and sell them to someone else wanting to buy US products. US dollars are only valuable if they are spent in the US. In short, anytime an American buys a Chinese product those same US dollars make their way to the most deserving US comany, either directly via the purchase of US products from US compnaies, or indirectly through loaning those dollars back to our government (who spend them through deficit spending) or investing/loaning in US companies. Assuming free and fair trade, always buy the best product (quality & price) and you will contribute to the most efficient and robust local & global economy. Hi Patrick,

Yes, you are correct. The chinese company would sell their US dollars to foreign currency trader since they want the Yuan. The foreign currency trader would only accept the US dollars knowing that they would be able to turn right around and sell them to someone else wanting to buy US products. US dollars are only valuable if they are spent in the US.

In short, anytime an American buys a Chinese product those same US dollars make their way to the most deserving US comany, either directly via the purchase of US products from US compnaies, or indirectly through loaning those dollars back to our government (who spend them through deficit spending) or investing/loaning in US companies.

Assuming free and fair trade, always buy the best product (quality & price) and you will contribute to the most efficient and robust local & global economy.

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]]> By: Patrick http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-14252 Patrick Mon, 18 Apr 2011 16:50:27 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-14252 Wouldn't a U.S. corporation buying goods from China have to exchange their dollar for the Yuan? If this is the case, then China would be able to do whatever they want with their profit, rather than simply returning it back into the U.S. economy. And couldn't China buy other currency with the dollars and then buy other country's goods and services? Wouldn't a U.S. corporation buying goods from China have to exchange their dollar for the Yuan? If this is the case, then China would be able to do whatever they want with their profit, rather than simply returning it back into the U.S. economy. And couldn't China buy other currency with the dollars and then buy other country's goods and services?

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]]> By: Steve Latter http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-10946 Steve Latter Sun, 27 Jun 2010 18:28:09 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-10946 Hi Gary, Thanks for the post. As you know, it is a combination of cost and quality that causes Americans to buy imports, not just cost. Most economists attribute technology, trade, and education as key drivers of a country's standard of living (ie, real income or purchasing power). Without US trade with countries like China & others, Americas standard of living would be considerably less as America would need to produce its own clothes, shoes, and toys making it impossible to free up our labor force and produce what we do best.....do you know that US real (restated for inflation) manufacturing is up over 50% in the past 12 years and that we are the largest manufacturer in the world? An economy needs to make a choice when it cannot produce everything do to a limited number of workers; restrict or pursue less trade and produce their own goods and services, or pursue more trade and specialize. Every economy in the world knows the right answer IF the goal is to increase standard of living (access to more products); TRADE MORE! Regards, Steve Hi Gary,

Thanks for the post.

As you know, it is a combination of cost and quality that causes Americans to buy imports, not just cost. Most economists attribute technology, trade, and education as key drivers of a country's standard of living (ie, real income or purchasing power).

Without US trade with countries like China & others, Americas standard of living would be considerably less as America would need to produce its own clothes, shoes, and toys making it impossible to free up our labor force and produce what we do best…..do you know that US real (restated for inflation) manufacturing is up over 50% in the past 12 years and that we are the largest manufacturer in the world?

An economy needs to make a choice when it cannot produce everything do to a limited number of workers; restrict or pursue less trade and produce their own goods and services, or pursue more trade and specialize. Every economy in the world knows the right answer IF the goal is to increase standard of living (access to more products); TRADE MORE!

Regards,

Steve

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]]> By: Gary http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-10945 Gary Sun, 27 Jun 2010 14:47:36 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-10945 Am I the only one who agrees with Tommy Lee above? Its Obvious most of the respondents are students of the article writers class. Whether its a "better" product or not, many foreign made products, like the a fore mentioned T-shirts in the example, are made by dirt cheap labor. Does Wal-mart ( or anyone other high volume reseller ) really buy their product for best quality or =best PRICE=?? I'm all for healthy competition and I believe that the big 3 automakers (and others) are learning some hard lessons but make no mistake folks we are being under cut across the board by cheap foreign labor. The trade balance will never be equaled while proven inhumane Chinese (and others) labor for paltry wages in poor conditions. Why do the Chinese make cheaper products? Simply because their COSTS are insanely low. Is America headed back to its sweat-shop days just to compete? We cannot just be a notion of consumers or else we will be totally dependent on the rest of the world. Buy American is NOT un American, but automatically assuming that an American product is inferior IS. A quality American product may not sell simply because of a popular opinion about an equal or even inferior foreign made product. Jobs are being outsourced because of cheap labor, see an interesting article at <a href="http://www.abovetopsecret.com/forum/thread581566/pg1" rel="nofollow">http://www.abovetopsecret.com/forum/thread581566/...</a> so is it really quality or COST ultimately that brings the import products here and costs American jobs? Without a fair balance America's economy will continue to be driven by foreign companies not our own; a type of foreign occupation. And when every American business is controlled by a foreign interest America will never again be able to shape her own destiny. Am I the only one who agrees with Tommy Lee above? Its Obvious most of the respondents are students of the article writers class. Whether its a "better" product or not, many foreign made products, like the a fore mentioned T-shirts in the example, are made by dirt cheap labor. Does Wal-mart ( or anyone other high volume reseller ) really buy their product for best quality or =best PRICE=?? I'm all for healthy competition and I believe that the big 3 automakers (and others) are learning some hard lessons but make no mistake folks we are being under cut across the board by cheap foreign labor. The trade balance will never be equaled while proven inhumane Chinese (and others) labor for paltry wages in poor conditions. Why do the Chinese make cheaper products? Simply because their COSTS are insanely low. Is America headed back to its sweat-shop days just to compete? We cannot just be a notion of consumers or else we will be totally dependent on the rest of the world. Buy American is NOT un American, but automatically assuming that an American product is inferior IS. A quality American product may not sell simply because of a popular opinion about an equal or even inferior foreign made product. Jobs are being outsourced because of cheap labor, see an interesting article at http://www.abovetopsecret.com/forum/thread581566/… so is it really quality or COST ultimately that brings the import products here and costs American jobs? Without a fair balance America's economy will continue to be driven by foreign companies not our own; a type of foreign occupation. And when every American business is controlled by a foreign interest America will never again be able to shape her own destiny.

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]]> By: Becca Poole http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7716 Becca Poole Sat, 21 Mar 2009 08:32:18 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7716 Unfortunately, many Americans do not understand this concept that buying American actually hinders our economy. I feel that many Americans, as well as many people in the world, make quick judgements without having much economic knowledge. Sadly, many people are up in arms about the stimulus bill when they do not fully understand what is happening behind the fancy political rhetoric such as "Buying American" and "appreciating the dollar." The politicians do their constitutional duty, or maybe just do what they need to do in order to get re-eclected, by listening and acting upon the what the American people want. However, Americans do not really understand economics and consequently, voice the inaccurate economic beliefs that they would like to see happen. Sadly, not many Americans are upset with this piece of protectionism, as they are with most of the stimulus bill. In fact, many people would support this "Buy American" because it is the patriotic thing to do. Ironically, this would hurt our fragile economy more, since not only are the Americans eliminating healthy competition which is beneficial to the nation, but it also not allowing American money to return to American companies. Fortunately, the bill was passed with a small remark about "Buying American", which hopefully not many other countries will take offense to and if they do take offense, then they probably will not buy our products. This potential loss of trade would lower our standard of living and would obviously not be a wise choice in this economic recession. Unfortunately, many Americans do not understand this concept that buying American actually hinders our economy. I feel that many Americans, as well as many people in the world, make quick judgements without having much economic knowledge. Sadly, many people are up in arms about the stimulus bill when they do not fully understand what is happening behind the fancy political rhetoric such as "Buying American" and "appreciating the dollar." The politicians do their constitutional duty, or maybe just do what they need to do in order to get re-eclected, by listening and acting upon the what the American people want. However, Americans do not really understand economics and consequently, voice the inaccurate economic beliefs that they would like to see happen.

Sadly, not many Americans are upset with this piece of protectionism, as they are with most of the stimulus bill. In fact, many people would support this "Buy American" because it is the patriotic thing to do. Ironically, this would hurt our fragile economy more, since not only are the Americans eliminating healthy competition which is beneficial to the nation, but it also not allowing American money to return to American companies. Fortunately, the bill was passed with a small remark about "Buying American", which hopefully not many other countries will take offense to and if they do take offense, then they probably will not buy our products. This potential loss of trade would lower our standard of living and would obviously not be a wise choice in this economic recession.

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]]> By: Meghan Green http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7715 Meghan Green Sat, 21 Mar 2009 06:40:26 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7715 This blog was a very interesting and informative read. As you said, most adult Americans (99%!!) believe that purchasing only American products helps our economy. They feel that this concept of "protectionism" is more advantageous because it helps to keep money and wealth within America and therefore, will help increase U.S. employment, profits, and stock prices. I admit that prior to taking an economic course, I probably considered myself as part of the 99% that did not know any better than the "buy American" concept. Now, however, I am glad to know that doing so actually hurts our economy, contributing to inefficiency and slowing productivity. I was surprised to learn that the $800 Billion United States stimulus package contains some "buy American" provisions within it. I would think that such an important bill that affects so many Americans would contain more economically fundamental proposals. To most Americans, however, this is probably seems like a good idea. I think it is very important that America educates its citizens on the concepts of trade. Doing so would help our citizens become not only more knowledgeable consumers, but more informative Americans as well. This blog was a very interesting and informative read. As you said, most adult Americans (99%!!) believe that purchasing only American products helps our economy. They feel that this concept of "protectionism" is more advantageous because it helps to keep money and wealth within America and therefore, will help increase U.S. employment, profits, and stock prices. I admit that prior to taking an economic course, I probably considered myself as part of the 99% that did not know any better than the "buy American" concept. Now, however, I am glad to know that doing so actually hurts our economy, contributing to inefficiency and slowing productivity.

I was surprised to learn that the $800 Billion United States stimulus package contains some "buy American" provisions within it. I would think that such an important bill that affects so many Americans would contain more economically fundamental proposals. To most Americans, however, this is probably seems like a good idea.

I think it is very important that America educates its citizens on the concepts of trade. Doing so would help our citizens become not only more knowledgeable consumers, but more informative Americans as well.

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]]> By: Olivia Reed http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7711 Olivia Reed Sat, 21 Mar 2009 02:20:31 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7711 This article is similar to a previous article that stresses the importance of buying from other countries--trade. We have learned over and over again that it is actually beneficial to American consumers for us to trade with other countries. The article estimates that 99% of American adults do not understand this concept. It's impossible for them to acknowledge the fact that trade is good. They claim that it's "un-American." In fact trade is good because it forces other countries to invest in our products. The example we have used numerous times is that of Shirts and GPS systems. If we buy our shirts from China, where they have more unskilled laborers and more raw materials, they get American dollars. They now have to spend those American dollars back in the United States economy. In the example, they turn arond and spend that money on GPS systems. They benefit from our specialties and we from theirs. Trade is good becasue it forces nations to specialize and it also makes domestic companies more competitive. Because buying foriegn is cheaper they have to try harder to make a better product that we would want to buy. Trade is good becasue it helps the economy. So, next time your out buy the product you want don't worry whether its made in America, China, or the Phillipines, if you like it, get it! This article is similar to a previous article that stresses the importance of buying from other countries–trade. We have learned over and over again that it is actually beneficial to American consumers for us to trade with other countries. The article estimates that 99% of American adults do not understand this concept. It's impossible for them to acknowledge the fact that trade is good. They claim that it's "un-American." In fact trade is good because it forces other countries to invest in our products. The example we have used numerous times is that of Shirts and GPS systems. If we buy our shirts from China, where they have more unskilled laborers and more raw materials, they get American dollars. They now have to spend those American dollars back in the United States economy. In the example, they turn arond and spend that money on GPS systems. They benefit from our specialties and we from theirs. Trade is good becasue it forces nations to specialize and it also makes domestic companies more competitive. Because buying foriegn is cheaper they have to try harder to make a better product that we would want to buy. Trade is good becasue it helps the economy. So, next time your out buy the product you want don't worry whether its made in America, China, or the Phillipines, if you like it, get it!

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]]> By: Andrew Giuseppe http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7710 Andrew Giuseppe Fri, 20 Mar 2009 20:32:34 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7710 I do absolutely agree that a shocking percentage of people in our country believe in buying american and have an outright hate for trade with foreign nations. These americans try to uphold their values of "patriotism" through actions that are in actuality hurting the economy of their beloved nation. These buy american provisions only hold weight because of their name, while good legislation should have merit determinant on its content. These same people would be outraged if the bill claimed, "we the government will eliminate your options to vote on products and shall henceforth decrease the quality of American goods...". However when they "buy American" for the sole sake of purchasing an American good rather than a better priced foreign competitor's good they are doing just that. The American people should bear two things in mind: 1) they are part of a capitalist economy that as a world trade power gains benefits by interacting with foreign economies and 2) that US dollars are used for the purchase of US goods even by our "horrible foreign competitor nations". The American people have the right to the buy products at the lowest prices and that every time they spend a dollar they are voting for a company. When they spend money on products from a foreigner that are better or cheaper than the similar US product, they force the US company to step up their game and either make goods better or cheaper. Lastly each proud American should realize that this whole economy of ours has a system to it, a system that seems to thrive and progress under competition and has done so for a long time, this devious and secretive "system" behind our economy is called capitalism. I do absolutely agree that a shocking percentage of people in our country believe in buying american and have an outright hate for trade with foreign nations. These americans try to uphold their values of "patriotism" through actions that are in actuality hurting the economy of their beloved nation. These buy american provisions only hold weight because of their name, while good legislation should have merit determinant on its content. These same people would be outraged if the bill claimed, "we the government will eliminate your options to vote on products and shall henceforth decrease the quality of American goods…". However when they "buy American" for the sole sake of purchasing an American good rather than a better priced foreign competitor's good they are doing just that. The American people should bear two things in mind: 1) they are part of a capitalist economy that as a world trade power gains benefits by interacting with foreign economies and 2) that US dollars are used for the purchase of US goods even by our "horrible foreign competitor nations". The American people have the right to the buy products at the lowest prices and that every time they spend a dollar they are voting for a company. When they spend money on products from a foreigner that are better or cheaper than the similar US product, they force the US company to step up their game and either make goods better or cheaper. Lastly each proud American should realize that this whole economy of ours has a system to it, a system that seems to thrive and progress under competition and has done so for a long time, this devious and secretive "system" behind our economy is called capitalism.

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]]> By: Holly Robison http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7709 Holly Robison Fri, 20 Mar 2009 20:28:29 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7709 The concept of buying foreign products is completely logical. Yes, the money will have to be spent back into our economy and the same benefits apply to China. If we have a trade deficit however, would it be helping China's economy more than ours? Because China is purchasing less of our products, I would assume there would be a decrease in demand. Also, I am confused about currency exchange companies. When America spends money in China, can't China just trade their American dollars that they've recieved from trade to the United States' Yaun (from the American purchases of Chinese products?) Obviously there is no need currently to stop trade with China, but it just seems like that is a way to get their own money back into their country. The Stimulis Bill appears to have the clause about buying American just for political gain and public approval. It is understandable because people don't understand the concept of trade being good, but instead of putting an unnecessary statement in the bill, the issue should have been left out altogether because the end result will just be confusing for the public. It is contradicting to say that we want to buy American but continue trading with other markets. There is a balance that needs to be created between trade and American products The concept of buying foreign products is completely logical. Yes, the money will have to be spent back into our economy and the same benefits apply to China. If we have a trade deficit however, would it be helping China's economy more than ours? Because China is purchasing less of our products, I would assume there would be a decrease in demand. Also, I am confused about currency exchange companies. When America spends money in China, can't China just trade their American dollars that they've recieved from trade to the United States' Yaun (from the American purchases of Chinese products?) Obviously there is no need currently to stop trade with China, but it just seems like that is a way to get their own money back into their country.

The Stimulis Bill appears to have the clause about buying American just for political gain and public approval. It is understandable because people don't understand the concept of trade being good, but instead of putting an unnecessary statement in the bill, the issue should have been left out altogether because the end result will just be confusing for the public. It is contradicting to say that we want to buy American but continue trading with other markets. There is a balance that needs to be created between trade and American products

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]]> By: Hope Linthicum http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7708 Hope Linthicum Fri, 20 Mar 2009 20:03:10 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7708 It's easy to understand why 99% of adults believe that buying American is the American thing to do. To an uninformed person, it would seem obvois that buying american would help the american economy. It would help the little "Ma and Pa" shops and keep other countries from getting ahead. However, from the viewpoint of someone who is educated in economics, such as President Obama, it is known that trade with other countries actually boosts our own economy. I am somewhat dissapointed in the "buy american" provisions in the Stimulus Bill becasue as a public leader both congress and the President are supposed to do whats best for the country not their approval rating. I would hope that in the future our public leaders will work to do whats best for our economy the smart way. It's easy to understand why 99% of adults believe that buying American is the American thing to do. To an uninformed person, it would seem obvois that buying american would help the american economy. It would help the little "Ma and Pa" shops and keep other countries from getting ahead.

However, from the viewpoint of someone who is educated in economics, such as President Obama, it is known that trade with other countries actually boosts our own economy. I am somewhat dissapointed in the "buy american" provisions in the Stimulus Bill becasue as a public leader both congress and the President are supposed to do whats best for the country not their approval rating. I would hope that in the future our public leaders will work to do whats best for our economy the smart way.

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]]> By: Patrick Shugrue http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7706 Patrick Shugrue Fri, 20 Mar 2009 12:14:43 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7706 I understand the concept and the logic behind the idea that the money used in foreign trade gets pumped back into the United States economy, thus making foreign trade a healthier way of strengthening the economy and being more patriotic than merely "buying American." If I can grasp this concept, why is it that the rest of Americans and media are seemingly oblivious to the idea? Sure, it politically looks good to announce that it is merely patriotic to buy American but why is it that neither party admits vocally that foreign trade is a vital component to expanding a country’s economy? Is it really so imperative to political power to announce such a lie and let the media eat it up? I believe that this illusion of being patriotic as opposed to being practical and helpful is actually hurting the economy. I also think it would be healthy if Americans were better educated in economics. Since the idea of feeding spent trading money back into our economy is widely recognized by most economists, there should be a more vocal approach to informing the public about the truth. Perhaps if the leader of the FED were to broadcast a knowledgeable speech alongside President Obama people would understand the issues at hand more clearly instead of consuming merely what politicians want the average uninformed citizen to take in. The mainstream view on economics, being the most widely accepted perspective should be preached about in televised speeches with our country’s leader. This, I believe is imperative considering the economic recession the entire world is facing right now. I understand the concept and the logic behind the idea that the money used in foreign trade gets pumped back into the United States economy, thus making foreign trade a healthier way of strengthening the economy and being more patriotic than merely "buying American." If I can grasp this concept, why is it that the rest of Americans and media are seemingly oblivious to the idea? Sure, it politically looks good to announce that it is merely patriotic to buy American but why is it that neither party admits vocally that foreign trade is a vital component to expanding a country’s economy? Is it really so imperative to political power to announce such a lie and let the media eat it up? I believe that this illusion of being patriotic as opposed to being practical and helpful is actually hurting the economy.

I also think it would be healthy if Americans were better educated in economics. Since the idea of feeding spent trading money back into our economy is widely recognized by most economists, there should be a more vocal approach to informing the public about the truth. Perhaps if the leader of the FED were to broadcast a knowledgeable speech alongside President Obama people would understand the issues at hand more clearly instead of consuming merely what politicians want the average uninformed citizen to take in. The mainstream view on economics, being the most widely accepted perspective should be preached about in televised speeches with our country’s leader. This, I believe is imperative considering the economic recession the entire world is facing right now.

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]]> By: Kevin Righi http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7702 Kevin Righi Fri, 20 Mar 2009 10:44:48 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7702 I never understood how buying foreign helped our economy until I took this class. I completely understand how the majority of Americans don't understand how this works. My grandfather has always been pro-American. We don't really even have to buy foreign. We just ended to buy the best product at the best price. If that product is American buy it, if its from China buy it, if it's from Japan buy it. This makes great competition among nations so each nation will try to make the best quality product the cheapest way possible.It doesn't matter cause those $ get spent back into our economy by them buying our goods and services. In our current situation we need to trade. If we just buy American it will only worsen our recession. I never understood how buying foreign helped our economy until I took this class. I completely understand how the majority of Americans don't understand how this works. My grandfather has always been pro-American. We don't really even have to buy foreign. We just ended to buy the best product at the best price. If that product is American buy it, if its from China buy it, if it's from Japan buy it. This makes great competition among nations so each nation will try to make the best quality product the cheapest way possible.It doesn't matter cause those $ get spent back into our economy by them buying our goods and services. In our current situation we need to trade. If we just buy American it will only worsen our recession.

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]]> By: Michael Summers http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7701 Michael Summers Fri, 20 Mar 2009 09:04:50 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7701 I think that being patriotic by buying american is probly one of the most misunderstood topics. The people I talk to about this topic do have a hard time believing it, but after a while of explaning they start to see it in the economic way and not theit f mistrude political way. I think that it is important for people to realize that buying the best product, is the best thing, because it forces the companies to make the best product they can in order to survive. The bail out's buy american clauses, I think, will actually hurt the economy a little bit because the companies will not be selling the best product they can make and it hurts the other companies that trade with other countries. When people buy the best product available, countries then can specialize in what they are best at and can trade more and sell more overall. I think that being patriotic by buying american is probly one of the most misunderstood topics. The people I talk to about this topic do have a hard time believing it, but after a while of explaning they start to see it in the economic way and not theit f mistrude political way. I think that it is important for people to realize that buying the best product, is the best thing, because it forces the companies to make the best product they can in order to survive.

The bail out's buy american clauses, I think, will actually hurt the economy a little bit because the companies will not be selling the best product they can make and it hurts the other companies that trade with other countries. When people buy the best product available, countries then can specialize in what they are best at and can trade more and sell more overall.

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]]> By: Carly Wonder http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7698 Carly Wonder Fri, 20 Mar 2009 08:23:36 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7698 Although I know better, I can relate with the 99% of Americans that believe buying American is better. Many Americans view Chinese and foreign produced goods to be inferior to their American counterparts. I will admit that when I am shopping for clothes, I sometimes look at the tag to see where it was produced and take into into account when I look at the price. Many times people look at something and view it was cheap and breakable merely because it was produced in China. The important question when shopping is not where it was produced but rather if it is the best quality for your budget. Many consumers fall into the trap that buying a foreign product does nothing for our economy. The recalls of Chinese produced toys and the outcry of politicians for outsourced jobs to India worsens American's perception of trade. Especially in the current economic state, trade is more important than ever. Americans need to remember that we have to work with other countries through trade to lessen the burden. Although limiting trade will supple more Americans with jobs in the short run, it will only worsen the wound in the long run. Although I know better, I can relate with the 99% of Americans that believe buying American is better. Many Americans view Chinese and foreign produced goods to be inferior to their American counterparts. I will admit that when I am shopping for clothes, I sometimes look at the tag to see where it was produced and take into into account when I look at the price. Many times people look at something and view it was cheap and breakable merely because it was produced in China. The important question when shopping is not where it was produced but rather if it is the best quality for your budget. Many consumers fall into the trap that buying a foreign product does nothing for our economy. The recalls of Chinese produced toys and the outcry of politicians for outsourced jobs to India worsens American's perception of trade.

Especially in the current economic state, trade is more important than ever. Americans need to remember that we have to work with other countries through trade to lessen the burden. Although limiting trade will supple more Americans with jobs in the short run, it will only worsen the wound in the long run.

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]]> By: Chris Griffith http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/comment-page-1/#comment-7697 Chris Griffith Fri, 20 Mar 2009 06:45:28 +0000 http://welkerswikinomics.com/blog/2009/03/08/buy-american-is-un-american-the-us-stimulus-package/#comment-7697 Ever since I learned that trading with foreign countries is the best way to help our own economy, I have wished that the 99% of U.S. adults who think "buying American" is the way to go would realize this also. Buying American products would only help the economy if the American product was the best possible choice, but for the most part it hurts the economy. Companies should be forced to compete not just domestically but internationally, especially during this technologically advancing age where everyone around the world is more easily connected. Buying the best product available is the best way to encourage innovation, and prevent greedy and risky businesses. When someone buys an American product over a better foreign product, they are rewarding mediocrity. It is like if an American company made a product but the quality was not as good as it could be because the company was trying to save some money, but you bought it anyway over a foreign product with better quality and price because the product was from an American company. That would be like giving your money to the American company because it gave you less quality than it could have. We should buy what we think is the best product because that will inspire innovation, and if that product is foreign, the money will come back into the US economy. US companies will also feel the need to improve which will help our economy grow. Ever since I learned that trading with foreign countries is the best way to help our own economy, I have wished that the 99% of U.S. adults who think "buying American" is the way to go would realize this also. Buying American products would only help the economy if the American product was the best possible choice, but for the most part it hurts the economy. Companies should be forced to compete not just domestically but internationally, especially during this technologically advancing age where everyone around the world is more easily connected.

Buying the best product available is the best way to encourage innovation, and prevent greedy and risky businesses. When someone buys an American product over a better foreign product, they are rewarding mediocrity. It is like if an American company made a product but the quality was not as good as it could be because the company was trying to save some money, but you bought it anyway over a foreign product with better quality and price because the product was from an American company. That would be like giving your money to the American company because it gave you less quality than it could have. We should buy what we think is the best product because that will inspire innovation, and if that product is foreign, the money will come back into the US economy. US companies will also feel the need to improve which will help our economy grow.

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