The Impact of American Made Goods on the Economy
Lots of Americans are eager to purchase American made goods over foreign imports, but what they don’t know is that there may be more benefits to this choice than meets the eye. Many businesses and researchers alike are looking into the real effects of the “Made in America” choice and the results they’ve found are astounding. This choice may have a larger influence on the future the future than most would expect.
Simply put, buying American made goods creates American jobs. Not only was there a direct impact on the company producing the product and its employees and owners, but there was also a direct correlation to the companies providing it’s equipment, utilities, inventory and services.
In order to keep the economy strong and active, money needs to keep moving. Its like blood and when its spent on foreign-made products, it wounds the economy. According to the researchers, purchasing American Made goods has double the impact on the domestic economy compare to foreign made goods. Every time you buy an imported product, its like cutting your neighbor with a small knife. Over time the wound gets bigger and slowly drains more and more money from the economy. It isn’t just about being patriotic, it’s about keeping the economy healthy.
Lowering your long-term cost
If you’ve ever been on Amazon, or at one of the countless superstores within our country like Walmart, you’ve no doubt seen the tides wave of cheap imported products from China, Vietnam and other countries. These product may every inexpensive but due to their poor quality they don’t last very long. Businesses are using this to their advantage. By creating these cheaper products, they are ensuring that the customer will be back to replace the product sooner which increasing their sales margin. According to the Boston Consulting group, 60 percent of Chinese consumers are willing to pay extra for a higher quality American Made Products than a cheap “Made in China” product
Better for families
Most foreign countries have far less thorough product safety standards than the United States. This leads to far more recalls and safety issues compared to American Made goods which have to follow strict consumer protection laws.
Year after year, companies continually invest in innovation and research and development. Specifically, there’s been an increasing surge in research for digital technologies, automation and new material and most of these leading companies in innovation are based in Georgia, Chicago, California and New York.
Addressing poor conditions
Those same countries that don’t enforce rigorous product safety laws also don’t enforce the same worker safety and child protection laws seen in Western Countries. This makes it difficult for companies to compete businesses willing to take advantage of their own people for a cheaper cost. In other words, when you buy American made goods, you’re encouraging a higher standard of working conditions. In addition to better product and worker safety laws, U.S regulations are considerably cleaner for the environment too. Every single American Made purchase gives us more control over the future of our economy and country, which in turn helps us set up the next generation for success as well.
Interested in learning more about American Made Matters? Read about the recent wave of Reshoring
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