'Shark Tank' Inventor Loses Big to 'Buy American' Fallacy

[The Free Hornet]

I think outsourcing is bad. I think getting rid of minimum wage is bad too.

The least you can be paid is zero. The minimum wage laws are intended to see more people get that: zero. It does gain votes as more classes of labor are beholden to the govt for temporary economic security.

[Tpoints]

I was just searching for a thread that mentioned the show, I only just found out about it this week, good stuff! Definitely opens my eyes to new perspectives of the business world.

[Kotin]

I think outsourcing is bad. I think getting rid of minimum wage is bad too. We should support American made goods. Apple should have made iphone and ipad in America. They charge enough for the devices they could make them here. Kinda like the super expensive clothing that is made in foreign land. Don't tell me they could not make them in America. We should not have to compete with workers in foreign lands that have no protections that is why we should have tariffs.

you are not "thinking" at all.

[jmdrake]

Some of you honestly don't understand economics. Outsourcing will create jobs here in the United States, but it will create more consumption jobs rather than manufacturing jobs. A consuming economy is a shrinking economy.

+rep! I can't believe people would attack someone for choosing to make his product in the U.S. If you want to outsource than make your own damn invention and outsource it.

[LibertyEagle]

Someone explain something to me, please. Why is it that after the WTO was established and NAFTA, CAFTA, etc. were passed that the giant sucking sound that Perot warned about did in fact happen. In addition to the once fairly even trade balance between China and America that then became a huge imbalance illustrated by the stockpile of shipping containers that were not needed for a return trip to China. Jobs and entire industries were outsourced, including nearly all of manufacturing and a good portion of the software industry. Unemployment is as high now as during the Great Depression, with no end in sight.

Then tell me why you think this was a good thing. In your own words, please.

Thank you.

[dannno]

+rep! I can't believe people would attack someone for choosing to make his product in the U.S. If you want to outsource than make your own damn invention and outsource it.

It seems like somebody else could come up with a better design and do just that quite easily and run this guy out of business.

[jmdrake]

The Shark Tank investors speak out of both sides of their pie-holes. The next episode or two after the ladder rack guy was given the bum's rush, the Sharkies were all clawing to invest with a guy who invented a plastic device that assists people to learn to play the guitar. This inventor manufactured his product entirely in the US and the Sharkies were all patting themselves on the back for supporting american manufacturing and creating US jobs. These creeps practically accused the ladder rack guy of being a racist for not wanting to manufacture in China, even after he cited valid concerns such as quality and loss of intellectual property.

Thanks for the breakdown. I've never watched the show and now I'll be sure not to watch it. Hey, someone should "outsource" their stupid show. Make it in China with dubbing like a good old fashion 1970s Shaw Brothers kung fu flick.

[jmdrake]

It seems like somebody else could come up with a better design and do just that quite easily and run this guy out of business.

Seems like it. But instead we have "losartarians" complaining that Americans "lost jobs" because this guy wouldn't outsource.

[dannno]

Someone explain something to me, please. Why is it that after the WTO was established and NAFTA, CAFTA, etc. were passed that the giant sucking sound that Perot warned about did in fact happen. In addition to the once fairly even trade balance between China and America that then became a huge imbalance illustrated by the stockpile of shipping containers that were not needed for a return trip to China. Jobs and entire industries were outsourced, including nearly all of manufacturing and a good portion of the software industry. Unemployment is as high now as during the Great Depression, with no end in sight.

Then tell me why you think this was a good thing.

Thank you.

It isn't a good thing, but the cause of the problem isn't companies outsourcing. The problem is our currency is the reserve currency of the world. That is what gives businesses the incentive to outsource. Businesses need to make the most frugal decisions they can, otherwise another company will and then will drive them out of business. Businesses must therefore outsource to stay competitive, but it isn't their fault, it is the government's fault.

[jmdrake]

/points a finger at the newbie

Well this "oldbie" says the "newbie" is on the right track. While I'm against the government forcing someone not to outsource, I applaud the inventor for wanting to create manufacturing at home and laugh at those who think the Walmart jobs that (maybe) would have been created if he'd outsourced are worth a flip.