Abraham Lincoln once said It is better to buy American goods than to buy foreign goods, because
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Abraham Lincoln once said "It is better to buy American goods than to buy foreign goods, because when we buy American goods, we get the goods and our money stays here, but when we buy foreign goods, we get the goods but our money leaves the country." We know that Honest Abe was a pretty smart guy. But how good an economist was he? In particular, does the statement above make good economic sense? Explain why or why not.
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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