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Outsourcing Fails to Destroy America Shock
If the past is any guide to the present, then scaremongering over outsourcing will increase as we get closer to the November elections. As polling day approaches, any candidate seeking a few extra votes is more likely to throw their lot in with Pat Buchanan, Lou Dobbs, Lyndon LaRouche and the wild-eyed hairy man on the street corner in predicting the swift economic collapse of the American economy due to foreign competition. All the more reason, then, to read this sane, interesting article by Daniel Gross in the sunday Times business section. Gross uses the story of Greg Manciw's public defenestration two years ago,
Economists have also found that jobs or sectors susceptible to outsourcing aren’t disappearing. Quite the opposite.... in recent years there has been greater job insecurity in the tradable job categories. But they [Economists] also concluded that jobs in those industries paid higher wages, and that tradable industries had grown faster than nontradable industries. “That could mean that this is our competitive advantage,” Mr. Jensen says. “In other words, what the U.S. does well is the highly skilled, higher-paid jobs within those tradable services.”
Look out for that one on the stump in the fall. You might be looking for a while.