Buy American/Hire American Policies Will Backfire

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Buy American

Monday, September 21, 2009

Any 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 the motion

    For

    Jagdish Bhagwati

    Professor, Economics and Law

  • For the motion

    For

    Douglas Irwin

    Robert E. Maxwell Professor at Dartmouth College

  • For the motion

    For

    Susan Schwab

    Former United States Trade Representative

  • Against the motion

    Against

    Jeff Madrick

    Former Economics Columnist for the New York Times

  • Against the Motion

    Against

    John R. MacArthur

    President of Harper's Magazine

  • Against the motion

    Against

    Leo Gerard

    International President of the United Steelworkers

  • Moderator Image

    Moderator

    John Donvan

    Author and correspondent for ABC News.

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Bhagwati

For The Motion

Jagdish Bhagwati

Professor, Economics and Law

is University Professor, Economics and Law, at Columbia University and senior fellow in International Economics at the Council on Foreign Relations.

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Douglas Irwin

For The Motion

Douglas Irwin

Robert E. Maxwell Professor at Dartmouth College

is the Robert E. Maxwell Professor of Arts and Sciences in the Department of Economics at Dartmouth College.

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Susan Schwab

For The Motion

Susan Schwab

Former United States Trade Representative

served as United States Trade Representative (USTR) from 2006-2009. As USTR, Ambassador Schwab was a member of President George W. Bush's cabinet and served as his principal advisor, negotiator and spokesperson on international trade and related issues.

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Madrick

Against The Motion

Jeff Madrick

Former Economics Columnist for the New York Times

is a regular contributor to the New York Review of Books, and a former economics columnist for the New York Times. He is editor of Challenge Magazine, visiting professor of humanities at The Cooper Union, and senior fellow at the Schwartz Center for Economic Policy Analysis.

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MacArthur

Against The Motion

John R. MacArthur

President of Harper's Magazine

is president and publisher of Harper's Magazine, the oldest continuously published monthly magazine in America. He has served in this role since 1983.

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Gerard

Against The Motion

Leo Gerard

International President of the United Steelworkers

is International President of the United Steelworkers, the dominant union in paper, forestry products, steel, aluminum, tire and rubber, glass, chemicals and petroleum.

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Declared Winner: For The Motion

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