The debate of whether offshore outsourcing of services weakens the US economy or strengthens it has drawn various opinions. Some believe that it drains away jobs and investment thus should be abolished, while others look at it as a cost-cutting approach that should be encouraged. In economic terms, offshore outsourcing is tricky and presents a win-lose situation, and not the conventional win-win situation as framed by the economic theory equations. There are winners and losers! The individual companies and the economy at large benefits while the workers who watch as their jobs are shipped overseas lose greatly. The benefits are hard ...
Essays on Displaced Workers
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