Outsourcing

Paper Summary:

This paper examines outsourcing and explores the business rationale, the concept of comparative advantage and the pros and cons of this process. The paper addresses outsourcing as a political issue.

From the Paper:

"According to an article in "Economist" outsourcing to other countries has become a hot political issue in America. President George Bush's chief economic adviser told Congress in January that if a product could be produced more cheaply abroad, Americans were better off importing the product than producing it at home. This is the essence of the law of comparative advantage. Although America's economy has lost jobs since the start of the decade, the vast majority of these job losses are cyclical in nature not structural."

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