Savvy Shopper: the benefits of buying American

"When we buy manufactured goods abroad, we get the goods and the foreigner gets the money. When we buy the manufactured goods at home, we get both the goods and the money.” − Abraham Lincoln

For more than a decade, the Savvy Shopper feature has emphasized that bargains are about more than price. For example, value can include shopping more efficiently, in less time, or in a way that helps society. When seeking value, one way I address the last point is trying to buy American-made products. As important as America is to most, the idea of supporting our industry still has a way of falling by the wayside. And with all the barriers to buying domestically, I can understand why.

From sketchy information about a product's origins to a simple lack of availability, I can testify that it isn't always easy. Among many reasons for the massive tide of imports, I believe one major cause is that we have been overwhelmed with misinformation. In turn, many have internalized the idea that a product’s origin doesn't matter. In fact, the confusion has grown to the point that some even argue that buying American is a bad idea*! Although ability to tell foreign from domestic products is essential and will be addressed at a future date, it is also critical to understand why supporting the home-team matters:

∙ Economic Future: For the past 40 years, we have run persistently high trade deficits. Last year, we ran a shortfall to the tune of 860 billion dollars and have accumulated a foreign debt of over 9 trillion dollars. At some point, the bills will come due and it won't be pretty. We might as well not make things any worse and an excellent step in that direction is to reduce the consumption of imports.

∙ Economic viability: As an engine of prosperity, manufacturing is in a class by itself. Every $1 of manufactured goods generated results in an additional $1.43 of activity in other economic sectors. This is twice as high as what the service sector generates. Because of the higher productivity, industry can also pay higher average wages than other economic activities. On top of this, 2/3 of all research and development that fosters the innovation critical to a nation is supported by industry. As an additional point, if we could eliminate the trade deficit, it is estimated that 10 million new jobs would be created.

∙ American values: Some say that nothing is more American than getting the best product for the best price, regardless of where it's made. Such a sentiment would be news to our founding fathers. When George Washington was inaugurated president, he insisted his clothing be American despite that fact that foreign apparel was cheaper. Along with our greatest president, all of the men on Mount Rushmore were ardent supporters of US industry. Instead of opting for lower-priced imports, these statesmen adhered to the principle that strengthening our country superseded mere price. And with such ideas, the USA became the preeminent economic power. Ultimately, buying American is time-honored in principle and in practice. Isn’t it amazing how our economic fabric start to unravel when we started to lose sight of this?

∙ What is American?: As a final point, there are some who maintain that globalization has rendered the term "American" meaningless. While offering examples like a Toyota Tundra being assembled in Texas and a Buick Enclave in China, it’s argued that it is no longer possible to identify or buy a purely domestic item. Talk about the trap of an all-or-nothing mentality! Throughout history, it’s a rare product whose ingredients were solely sourced from one nation. For example, the tires on a Model T were made with Asian rubber, but most people have enough sense to consider this an American icon. Although there may be few 100% domestically-sourced offerings, the fact remains that there is a multitude of products that are predominantly so.

While there is nothing inherently wrong with foreign products, buying them when domestic alternatives are available carries a greater cost than many realize. Just sayin’! Having covered some key reasons for supporting the home team, specific ways to do this will be covered at a future date. In the meantime, I encourage you to visit our Facebook site (Log on to Facebook and enter “Lubbock Savvy Shopper” in the search tool) or write us at SavvyShopperLubbock@gmail.com and share your thoughts, ideas, and questions. Also, to stay abreast of developments, follow us on Twitter to get updates: https://twitter.com/LbbSavvyShopper. We have a great community but are always looking for newcomers. Don’t miss out!

* It's true! If you don’t believe it (who would?) go to this article: https://reason.com/2011/11/03/the-stupidity-of-buy-american/. As the saying goes, the truth is stranger than fiction because fiction has to make sense.

SEAN FIELDS is the A-J’s Savvy Shopper. Read his columns Sundays and Wednesdays. Email him at SavvyShopperLubbock@gmail.com, like his Facebook page at Facebook.com/LubbockSavvyShopper, or see previous columns and deals at lubbockonline.com/savvy-shopper.

This article originally appeared on Lubbock Avalanche-Journal: Savvy Shopper tips on the benefits of buying American