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To: Lizzie Tudor who wrote (158819)7/28/2003 1:14:41 AM
From: fedhead  Read Replies (1) of 164684
 
I get enough about free trade to know that jobs will go
where it makes economic sense. Currently software/hardware
jobs are going to India,China etc and that is not a bad thing. Besides India and China there are a whole of East
European countries/ Russia which have a very well trained
technical labor pool that will be a destination for these jobs. It does not make sense to pay a programmer 100 K these
days to do some Oracle App development. Except for a few specialised skills these jobs are going and the sooner people adjust to this reality and take steps accordingly the better off they will be. I don't see how my feelings towards India or your bad experience with Indian programmers from wipro are relevant to this discussion of
jobs migrating overseas. IF Wipro or other Indian companies
can't deliver you can bet that Oracle and other companies
will move the jobs to some other country that can deliver the goods, but the fact that hiring in Bangalore is booming
tells me that is in fact not the case. (In fact there is
a housing bubble developing in Bangalore and people don't stick around in a company for more than 2 years before jumping to another company for a 75 % pay raise. The atmosphere there is sort of like the valley in the late 90s.) I think the way around this is for the US to insist
that China and India float their currencies against the
dollar. Then as the Chinese Remnimbi and the Indian rupee
rise against the dollar the cost savings of moving jobs won't be all that much. Of course that is not in the interests of US corporations who want to get these jobs done as cheaply as possible. The free market can be a
harsh system at times but it is the best system there is.
I would recommend Milton Friedman's book called
"Free to chose". There is a whole chapter on the benefits
of free trade that makes the case for free trade a lot more eloquently than I could. Of course Adam Smith's " The
Wealth of Nations" is another classic but that requires
a lot of time to read and comprehend.

Anindo
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