Well, contrary to your friend is the real world.
It has been reported that Indian software actually outperforms US made software in reliability benchmarks. I have worked in the software industry since 1995 and would agree with statement. However, my job is not in jeapordy, but have seen quite high attrition rates in my industry.
Plus, I also have a friend who is currently in India training his company's new employees. As a result of his training, he has severly cut back his personal spending for fear of his own job and has acknowledged that his Indian counterparts are quite talented.
Plus, 50% of US graduate students in Mathematics, Science, and Engineering are from other nations.
Some of the most advanced surgical procedures are being performed in Malaysia, Singapore, and Europe. Japan typically has more advanced consumer electronics that are available in the US. Open up a PC and you pretty much see a United Nations of components. Chrylser in now owned by a German company.
And in a response to your prior comments, Indian and Chinese standard of living will improve, but will take GENERATIONS. In the meantime, US workers will have little choice but to accept declining wages until there is equilibrium with GLOBAL wages.
Additionally by our own government estimates, because China and India are expected to become larger economies than ours by 2025.
With respect to you and your friend, but your beliefs that foreign countries are not capable of our level of innovation is extremely naieve.
These arguments are hardly ignorant. And frankly far more respectful of US worker competition than yours.
If you are so confident that, over the long term, outsourcing will benefit the US economy tell me where the US has a competitive and innovative edge that foreign nations will not be able to match? Where will the US economy be growing jobs? Most of your historical arguments come from manufacturing job losses that were replaced by the information age jobs. What other industries are there beyond information?
My friend IT is just the beginning. Any knowledge based occupation can be done somewhere else. The only thing logically thing is left are those jobs that are restricted by geography and cultural differences. You can train foreigners on US GAAP accounting principals, but it's much more difficult to teach them the American love affair with Football. Hence, you can outsource Accountants, but not Sports Writers.
The global economy means global wage competition.
For 1 and 2. Our trading partners create barriers to our products and we have one-way free trade. Hence the 184B trade deficit.
For 3. That is an old assumption that US out sources lower skilled jobs and eventually replaces them with higher skilled, higher paying jobs. India, China, Japan and the EU are JUST as capable at innovation and invention. Acquiring higher skills NO LONGER assures job security.
Our reality is that the rest of world has finally caught up with America's ability to innovate. Our labor force no longer provides a unique skill advantage.
US companies are exploiting an arbitrage situation in the world labor market simply because India and China are accustomed to a vastly shittier standard of living than we have in the US.
Finally, Economics has always been good at analyzing the past, but rarely predicts the future.
You theories are as relevant as a 1980's drugged out crack whore.
I get sick and tired of CEO's who argue "Free Market" when it benefits their own pockets (not even those of the shareholders) then argue for legislation when that same market reveals their bad business plans.
If the free market is really the true solution, then why do we have government subsidized agriculture that benefits only big agricultural firms? Why do be have high steel tariffs? How come the US had to provide bail-out loans for major airlines, yet discount airlines could survive without the loan money?
Also, if the markets are truly free, why do we have such a hard time exporting to China, Japan, and even Europe.
Why can China sell goods in the US virtually unabated, yet Phillip Morris is severely restricted from selling cigarettes in the Chinese market, yet the Chinese want our cigarette manufacturing techniques? Why must Japanese citizens acquire a special driver's permit to purchase a Harley Davidson Motorcycle?
Let's face it. The free market is a myth.
How will Intel react when their own offshore employees form thier own semi-conductor companies that turn around and dump chips on the US market?
I am willing to bet then, our same Intel CEO preacher of the free market would be begging for protectionism legislation.
As far as the "Benedict Arnold" label. While that label may be extreme, it is abundantly clear from his own words in the interview that Intel's Executive Management is acting in it's own best interest. Clearly, this interest has nothing to do with the health of its own home country. As he points out, China is Intel's second largest market. What will happen when it becomes his first largest market? Maybe "foreign national" is more appropriate?
I've got it! Port and pre-install Redneck Rampage, bundle Yahoo instant messenger, offer live updates of NASCAR standings, and have it automatically print beer and cigarette coupons.
Dat machine's a no brainer.
Why is it that the recording industry thinks an album is worth the same as a movie?
Isn't there a lot more cost in producing a movie vs. an album? Doesn't a movie INCLUDE a soundtrack?
Time to support local bands and skip the national music scam from the labels.
In 2002, the CEO of Walmart made $8m in compensation ($5M in Options and $3M in salary and bonus while the average worker made approximately $17600. Or, 450 times the line worker compensation.
If you shaved just $2M in his options, they could have hired 113 line workers or put 2 dollars in the hands of EVERY Walmart employee and you would have still left a $6M compensation pakage for the CEO.
This doesn't even include compensation of the other officers or the Walton family.
Why hasn't there been more outrage? Why do we let companies break the law when there are other places to cut in order to help the bottom line?
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Well, contrary to your friend is the real world. It has been reported that Indian software actually outperforms US made software in reliability benchmarks. I have worked in the software industry since 1995 and would agree with statement. However, my job is not in jeapordy, but have seen quite high attrition rates in my industry. Plus, I also have a friend who is currently in India training his company's new employees. As a result of his training, he has severly cut back his personal spending for fear of his own job and has acknowledged that his Indian counterparts are quite talented. Plus, 50% of US graduate students in Mathematics, Science, and Engineering are from other nations. Some of the most advanced surgical procedures are being performed in Malaysia, Singapore, and Europe. Japan typically has more advanced consumer electronics that are available in the US. Open up a PC and you pretty much see a United Nations of components. Chrylser in now owned by a German company. And in a response to your prior comments, Indian and Chinese standard of living will improve, but will take GENERATIONS. In the meantime, US workers will have little choice but to accept declining wages until there is equilibrium with GLOBAL wages. Additionally by our own government estimates, because China and India are expected to become larger economies than ours by 2025. With respect to you and your friend, but your beliefs that foreign countries are not capable of our level of innovation is extremely naieve. These arguments are hardly ignorant. And frankly far more respectful of US worker competition than yours. If you are so confident that, over the long term, outsourcing will benefit the US economy tell me where the US has a competitive and innovative edge that foreign nations will not be able to match? Where will the US economy be growing jobs? Most of your historical arguments come from manufacturing job losses that were replaced by the information age jobs. What other industries are there beyond information? My friend IT is just the beginning. Any knowledge based occupation can be done somewhere else. The only thing logically thing is left are those jobs that are restricted by geography and cultural differences. You can train foreigners on US GAAP accounting principals, but it's much more difficult to teach them the American love affair with Football. Hence, you can outsource Accountants, but not Sports Writers. The global economy means global wage competition.
Problems w/ your recap.
For 1 and 2. Our trading partners create barriers to our products and we have one-way free trade. Hence the 184B trade deficit.
For 3. That is an old assumption that US out sources lower skilled jobs and eventually replaces them with higher skilled, higher paying jobs. India, China, Japan and the EU are JUST as capable at innovation and invention. Acquiring higher skills NO LONGER assures job security.
Our reality is that the rest of world has finally caught up with America's ability to innovate. Our labor force no longer provides a unique skill advantage.
US companies are exploiting an arbitrage situation in the world labor market simply because India and China are accustomed to a vastly shittier standard of living than we have in the US.
Finally, Economics has always been good at analyzing the past, but rarely predicts the future.
You theories are as relevant as a 1980's drugged out crack whore.
I get sick and tired of CEO's who argue "Free Market" when it benefits their own pockets (not even those of the shareholders) then argue for legislation when that same market reveals their bad business plans. If the free market is really the true solution, then why do we have government subsidized agriculture that benefits only big agricultural firms? Why do be have high steel tariffs? How come the US had to provide bail-out loans for major airlines, yet discount airlines could survive without the loan money? Also, if the markets are truly free, why do we have such a hard time exporting to China, Japan, and even Europe. Why can China sell goods in the US virtually unabated, yet Phillip Morris is severely restricted from selling cigarettes in the Chinese market, yet the Chinese want our cigarette manufacturing techniques? Why must Japanese citizens acquire a special driver's permit to purchase a Harley Davidson Motorcycle? Let's face it. The free market is a myth. How will Intel react when their own offshore employees form thier own semi-conductor companies that turn around and dump chips on the US market? I am willing to bet then, our same Intel CEO preacher of the free market would be begging for protectionism legislation. As far as the "Benedict Arnold" label. While that label may be extreme, it is abundantly clear from his own words in the interview that Intel's Executive Management is acting in it's own best interest. Clearly, this interest has nothing to do with the health of its own home country. As he points out, China is Intel's second largest market. What will happen when it becomes his first largest market? Maybe "foreign national" is more appropriate?
I've got it! Port and pre-install Redneck Rampage, bundle Yahoo instant messenger, offer live updates of NASCAR standings, and have it automatically print beer and cigarette coupons. Dat machine's a no brainer.
Why is it that the recording industry thinks an album is worth the same as a movie? Isn't there a lot more cost in producing a movie vs. an album? Doesn't a movie INCLUDE a soundtrack? Time to support local bands and skip the national music scam from the labels.
In 2002, the CEO of Walmart made $8m in compensation ($5M in Options and $3M in salary and bonus while the average worker made approximately $17600. Or, 450 times the line worker compensation. If you shaved just $2M in his options, they could have hired 113 line workers or put 2 dollars in the hands of EVERY Walmart employee and you would have still left a $6M compensation pakage for the CEO. This doesn't even include compensation of the other officers or the Walton family. Why hasn't there been more outrage? Why do we let companies break the law when there are other places to cut in order to help the bottom line?
...by leaving our garbage, we may be pissing off the microbes we are look'in for.