From: Rafal Smigrodzki (rafal@smigrodzki.org)
Date: Tue Jun 10 2003 - 11:29:43 MDT
Spudboy100@aol.com wrote:
Watching the hundreds of thousands of Information Technology jobs, that
have been, and are being Off-Shored (A phenomena that an economist might be
interested in), one can see why there is no recovery, despite multiple
interest rate cuts by Greenspan's Fed. And the folks who obtain these jobs
at 1/10th the pay rate that Americans do, cannot afford to purchase goods
and services produced by American-based firms. They are essentially outside
the American economy, and thus no American benefits-except the few who sit
on boards of directors and tell each other how much money they've saved.
### This is incorrect - almost all Americans benefit from the globalization
of the labor market by being able to buy services and products at a lower
price. Additionally, the foreign employees of American companies benefit
from American capital and knowledge, which enables them to purchase globally
produced goods.
Freedom is good for you.
Rafal
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