Just a thought-provoking tidbit in the few days leading up to the latest employment numbers: A software firm in Bangalore, India is exporting jobs to the USA. Or maybe it's more accurate to describe it as the USA importing jobs from India. Not sure; maybe Lou Dobbs will help us with what to call it. Here's the story.
Hmmm. I hope Congress, in its infamous wisdom, doesn't slap an import tariff on jobs we import from India, as it did on ethanol we import from Brazil—both of which, in theory, are good for our economy. [I must keep in mind, however, that Hope is Not a Strategy—as the recent bestselling book reminded us.]
Steve, you forgot to mention that there's a silver lining for Lou Dobbs at the end of the article:
"There's no doubt some jobs will be created, but who are they putting out of business with the products they're selling to the U.S. business community?" said institute economist Robert Scott. "For the first time we're seeing the process of in-sourcing eliminating domestic jobs."
How does one become an economist and still have that zero-sum mindset? I hope Mr. Scott is saying that because the Economic Policy Institute is paying him and not because he studied the issue and believes that.
Posted by: Jason | 05 September 2007 at 06:14
"'There's no doubt some jobs will be created, but who are they putting out of business with the products they're selling to the U.S. business community?' said institute economist Robert Scott. 'For the first time we're seeing the process of in-sourcing eliminating domestic jobs.'"
That's really scraping the bottom of the barrel when it comes to grasping for bad news.
Posted by: Joe C. | 05 September 2007 at 09:17