Offshoring Trends Net Biotech Firms

Makarand writes "According to this article in the San Francisco Chronicle, BioTech, once considered to be the next innovative sector to help offset the jobs losses from IT offshoring, is showing signs of riding an offshoring wave of its own. Foreign governments with a national priority to attract biotech businesses with highly trained research workers and new research centers are the new forces to reckon with in preventing the exodus of biotech jobs. Drug developers are looking at ways to cut costs of drug development as Americans and their employers are starting to constantly worry about the high price of prescription drugs. The lower costs of clinical trials and the ease with which human subjects can be recruited for drug tests in other countries are making biotech jobs susceptible to offshoring."

Comments

Capitalism

[gid13]

Correct me if I'm wrong, but isn't outsourcing a shining example of capitalism working exactly as it should? People always get so bent out of shape about it, but fundamentally it's rewarding the people/countries who are willing and able to do the same work for less. If you look at the unequal distribution of wealth as a problem (which I do), then the good news is that poor countries will get richer, as will the uber-rich that now have to pay their workforce less. The bad news is for the middle class. American left-wingers would do well to remember that the people receiving out-sourced jobs probably need them more than Americans. And American right-wingers would do well to remember that unless they're very rich, they're likely getting shafted.