The Real Cost of Offshoring

Businessweek ^ | June 2007 | Michael Mandel

[servantboy777]

U.S. data show that moving jobs overseas hasn't hurt the economy. Here's why those stats are wrong Whenever critics of globalization complain about the loss of American jobs to low-cost countries such as China and India, supporters point to the powerful performance of the U.S. economy. And with good reason. Despite the latest slow quarter, official statistics show that America's economic output has grown at a solid 3.3% annual rate since 2003, a period when imports from low-cost countries have soared. Similarly, domestic manufacturing output has expanded at a decent pace. On the face of it, off shoring doesn't seem to be having much of an effect at all. But new evidence suggests that shifting production overseas has inflicted worse damage on the U.S. economy than the numbers show. Business Week has learned of a gaping flaw in the way statistics treat off shoring, with serious economic and political implications. Top government statisticians now acknowledge that the problem exists, and say it could prove to be significant. The short explanation is that the growth of domestic manufacturing has been substantially overstated in recent years. That means productivity gains and overall economic growth have been overstated as well. And that raises questions about U.S. competitiveness and "helps explain why wage growth for most American workers has been weak," says Susan N. Houseman, an economist at the W.E. Upjohn Institute for Employment Research who identifies the distorting effects of off shoring in a soon-to-be-published paper.

[Halgr]

I can’t twist your arm....but Google is your friend....

IF you had read what is out there you will see that NAFTA and CAFTA are not as they appear. While you are at it....should you chose to use Google....look up the “Amero” (There is even a CNBC Video on the “Amero” listed on the Google Search.) and the “SPP” and maybe even the “Trans Texas Corridor”

Additionally, “The Eagle Forum”, has lots of info on the NAU

....and the Eagle Forum is one of the most respected Conservative Groups in America. Its been around a lot longer than FReepers.

But hey I’m a “tin foil” nut masquerading as a FReeper....LOL

But then again you could be one of those “Globalists” in disguise.

;-)

[Toddsterpatriot]

If you found something using Google that shows NAFTA and CAFTA have harmed us, you should post it.

But hey I’m a “tin foil” nut masquerading as a FReeper....LOL

Finally, you speak some truth.