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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.08+0.1%Nov 7 9:30 AM EST

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To: Stock Farmer who wrote (64891)10/26/2003 12:46:19 PM
From: Lizzie Tudor  Read Replies (1) of 77397
 
It looks like Steven Roach has an understanding of the incorrect productivity metrics.

<<Stephen Roach, chief economist at Morgan Stanley, sees a link between higher productivity, weak wage growth and the shift of factory and white-collar services jobs offshore.

The shift of labor-intensive work offshore "has the effect of biasing domestic productivity growth to the upside," Roach wrote.

And while outsourcing overseas has boosted efficiency, it's given rise "to a significant income leakage that already has had a material impact on household purchasing power.">>

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