In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.
Sentiment: POSITIVE
Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.
And just remember, every dollar we spend on outsourcing is spent on U.S. goods or invested back in the U.S. market. That's accounting.
Outsourcing was the bogeyman of the '90s. Protectionists portrayed it as an evil that would take American jobs away. Yes, some jobs did go offshore as people feared, but it made the global economic pie grow bigger.
The important thing about outsourcing or global sourcing is that it becomes a very powerful tool to leverage talent, improve productivity and reduce work cycles.
Outsourcing is inevitable, and I don't think it's necessarily treating people like things.
The other part of outsourcing is this: it simply says where the work can be done outside better than it can be done inside, we should do it.
Reliable data on the outsourcing of American jobs is sorely missing from the debate on globalization.
If you deprive yourself of outsourcing and your competitors do not, you're putting yourself out of business.
Will the industry outsource more? I think it depends on the client base.
We can choose a future where we export more products and outsource fewer jobs. After a decade that was defined by what we bought and borrowed, we're getting back to basics, and doing what America has always done best: We're making things again.
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