Promoting ‘Buy American’
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Buy American? Exactly what does that mean? Strictly speaking, an American product or service should be produced by individuals or organizations:
Using only U.S. parts and raw materials; using only U.S. equity financing; using only U.S. debt financing; using only U.S. employees; using only U.S. locations.
In the real world, such a definition is impossible. With its huge debt held by overseas investors, even the federal government would not qualify as an “American” organization.
Like it or not, we have a global economy. It’s a waste of time and money to measure the “American-ness” of a given product or service, based on the origin of parts and raw materials; the citizenship of shareholders, lenders, and workers; and the physical location of the place of production.
Instead of a local campaign to “Buy American,” maybe we should start a global movement to “buy the best,” and then empower Americans to produce the best, by abolishing counterproductive public policies that stifle creativity.
DAVID J. BAAB, Irvine
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