The Upside of Free Trade
Posted on January 16, 2008 by Leah Hazard
Steven E. Landsburg outlines a few simple ways to wrap your mind around the concept of free trade and outsourcing in the New York Times op-ed, What to Expect When You're Free Trading.
Even if you’ve just lost your job, there’s something fundamentally churlish about blaming the very phenomenon that’s elevated you above the subsistence level since the day you were born. If the world owes you compensation for enduring the downside of trade, what do you owe the world for enjoying the upside?
Internally torn about free trade vs. protectionism? Well worth the read.
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Outsourcing definitely helped
Outsourcing definitely helped a company to do task that is time-consuming and costly. But many employees were laid off because most companies outsourced jobs overseas for cheaper cost. Especially right now that we are facing financial crisis that instead for the company to close, they just find way to maintain their market but lesser expenditure. IBM layoffs were announced in the last week or so unofficially, but from inside sources. Now, IBM layoffs are official. The company will layoff 5,000 employees, and replace them with outsourced jobs overseas. IBM and other tech industry giants have been outsourcing for years, as it keeps them from getting short term loans to stay afloat, I guess. Granted, it doesn't do their communities, the families of those afflicted, and the country in which they live in any good. So now, IBM layoffs have joined the ranks of so many other companies.
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