Saturday, January 31, 2009

Buy American Act

Nothing new, we should be used to this by now. The original Buy American Act was passed in 1933, although it has been scaled back significantly since implementation. The act is really just a way to appease lobbyists and generate valuable campaign contributions. This act as well as the wave of protectionism in the 1930's is also credited for amplifying a recession into the great depression. Glad we seem to be headed down that road again.

Wikipedia Link

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