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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 220.66+1.6%Nov 21 9:30 AM EST
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To: Lizzie Tudor who wrote (159125)8/28/2003 10:28:30 PM
From: Oeconomicus  Read Replies (1) of 164684
 
If offshoring was possible in say 1987, and companies could cut costs by 90% by hiring offshore workers, I can assure you they would have done it.

They did, Liz. And earlier than that.

...the rest of us were having the time of our lives. Now, 3 years later these are bad times but it isn't due to some kind of "hangover" at least from what I can see.

Look again, then. Overinvestment, especially in technology goods and services (by all sorts of businesses) and in capacity to produce even more of those same goods and services so in demand, was what allowed you and your friends in Silly Valley to have "the time of your lives." But the downside of overinvestment on the scale we saw in the late '90s is the inevitable bust, the "hangover" - a dearth of new investment in these same things. That, Liz, is what happened to tech jobs. And the bust in tech had ripple effects across most of the economy. The "offshoring" is just a long-running sideshow.
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