It is quite tempting to buy foreign-made products. The comparative price between both is quite different. If you look at a product that is made in the states, it is usually of a higher price while in comparison a foreign product is usually much cheaper. What most people never question or even consider why it is considerably more affordable to buy a foreign product. The reason most foreign products are more affordable is because of the cheap labor markets that exist outside our country. Those markets force our American workers to merge into a global labor market and compete with other around the world for jobs. In some of the countries to pay for the hand in labor is close to nothing and it is not even enough to survive on.
This makes employing American workers a liability because if a company is to hire you and pay you from 10 to 15 dollars an hour with benefits, how is it going to compete with another company that pays workers a dollar an hour with no benefits on the other side of the planet? You simply can not because of the formation of labor unions and national minimum wage. This would one of the few con’s of buying American made products. It is harder to bring back jobs to create American made products because of the high cost of production and labor.
According to Cnn, “Sm...
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...an end result in the creation of more jobs. According to U.S. Representative Betty Sutton, the United States has lost an average of 15 manufacturing facilities a day over the last 10 years. During 2010 alone, an average of 23 manufacturing facilities permanently shut down in the United States every single.
The notion can of buying of made in America is possible and it could alleviate much of the trade problem. If we were able to produce more American products and export them, we could cause economic growth. Production possibility frontier of goods within the United States could cause an influx in unemployment. According to Peter Morici, it is estimated that cutting the U.S. trade deficit in half could create close to 5 million jobs. All these things can be achieved by the simple action of buying American made products. The only downside to this
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