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Buy American/Hire American Policies Will Backfire
Posted
July 21, 2011
Views
7,210
Likes
46
Comments
12
Engagement
0.80%
July 21, 2011
7,210
46
12
0.80%
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1:45:00Now PlayingAny project funded by February's $789 billion stimulus package is meant to use only US made steel and manufactured goods. Any financial institution receiving bail out funds must give preference to citizens. Will these policies backfire? Opponents say these policies will have little direct impact on job creation, and could have very harmful repercussions by triggering a global trade war in which each country seeks to "beggar its neighbor" in a vicious cycle of economic decline. Proponents argue that these policies focus taxpayer money to yield the biggest benefit for American families, they help American business to compete with cheap foreign labor, and that governments the world over already favor their domestic industries. Are we subsidizing the inefficient, or sparking a much needed boost to the economy?
For: Jagdish Bhagwati
For: Douglas Irwin
For: Susan Schwab
Against: Jeff Madrick
Against: John R MacArthur
Against: Leo Gerard
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