Has Outsourcing Irreversibly Damaged The American Economy?: Left of Center View
Has outsourcing irreversibly damaged the American economy? Only time will tell. Has outsourcing damaged the American economy? Most definitely, we just have to wait to see if the damage is permanent.
American corporations send jobs overseas, but do very little to replace them here at home. If this practice keeps up the U.S. may well get some of those jobs back, but not for the reasons we'd like. It may be that the tables turn and the U.S. economy is so weakened that Chinese corporations come here to find cheap labor.
American corporations have gotten very good at taking companies and turning them into corporations, building them up until they are worth more cut apart. It's the same cycle that fueled the .com boom and bust as well as our current real estate troubles. It is a system where very few can make a lot of money, but in the long term the little guy (and girl) gets screwed. Which doesn't really effect the guys doing the damage, until...
With fewer and fewer people working, less money is being spent in the local and national economy. There will eventually come a time when we wonít be able to afford the products our companies are making for us overseas. When that happens the last pillar will fall and the corporation that sent the jobs overseas won't be able to afford their own executives.
On the bright side, America is a resilient place full of resilient people. Every time the world changes we find a way to change with it. If our nation wants to remain a world leader in all things then we must adapt and learn from the world. Right now we're too busy making a quick buck to think about the long term consequences. But we will eventually, we'll have to. I'm just hoping I'm around to see it.
Thanks for listening,
Berkeley Bill - California | E-mail Comments on this column. | Click icon to Digg this article
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