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> that wasn't an option in the less globalized mid-century. Oh it wasn’t less global, the Republican administration forced government entities to buy (or in th
by jahewson 4y ago
> that wasn't an option in the less globalized mid-century.
Oh it wasn’t less global, the Republican administration forced government entities to buy (or in this case build) American instead of European in an attempt to fight inflation.
- dragonwriter 4y ago> Oh it wasn’t less global, Yes, it was; trade globalization progressively advanced under the GATT regime shortly after Ww2 through the formation of (and further after and by expansion of both the membership and scope of rules of) the WTO to replace the GATT in 1997. > the Republican administration forced government entities to buy (or in this case build) American instead of European in an attempt to fight inflation. The Buy America Act was not a unilateral partisan or executive actions, but was a bipartisan law passed by a Democratic-majority House and Republican-majority Senate under a lame-duck Republican Administration, and it was more motivated by stimulating the domestic economy during the Depression (it was signed on the last day of the Hoover Administration) than fighting inflation, which had been negative and getting more negative for the three years preceding the passage of the bill.
- bobthepanda 4y agoThey still do. Just now it's European and Japanese companies with American factories.