October 05, 2004
Can Kerry Prevent Outsourcing?
According to a recent Zogby International poll, 71% of Americans feel that outsourcing is bad for the nation's economy. But most economists feel that Democrat presidential candidate Senator John Kerry can do little to stop the phenomenon, and that it will inevitably remain a part of global trade.
From the Michigan Daily:
“When you think of all the other problems the economy is facing, (outsourcing) has gotten attention out of all proportion to its significance,” said Gary Saxonhouse, a University economics professor.
Saxonhouse cited recent reports by the General Accounting Office and Department of Labor, which found in a survey of 2003 mass layoffs that only 13,000 job losses — less than 1 percent of the 1.5 million lost in layoffs of more than 50 workers — were due to offshore relocation.
“While it’s extremely painful for the 15,000 people who, in a year, might lose their jobs to a company moving its operations overseas, it’s not an important economic issue for the economy as a whole,” Saxonhouse said.
Read more: Economists say Kerry can't stop outsourcing
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