The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Lizzie Tudor who wrote (16935)	2/8/2004 7:54:31 PM
From: Wyätt Gwyön	Read Replies (1) of 306849

corner. Many economists are looking at the productivity figures for example and assuming technology is the culprit and not offshoring. only an economist with the IQ of George Bush believes that. Without any direct hands on experience with either productivity technology or offshoring they really don't know that is not true. i understand it fine without any hands-on experience. i also explained to you how it affects both unit productivity and GDP in this post: Message 19778151 by the way, even though official US productivity is raised by offshoring, to the extent that one assumes more worker-hours are required for offshore work than onshore work, aggregate productivity related to the US economy is actually reduced--but this doesn't matter because the very low pay of foreigners compared to onshore workers means profitability is raised despite their lower productivity. i imagine these things are understood by most serious economists, although those on the sell side are perennial optimists in public for the sake of their careers. this of course excludes the idiots who appear on TV.

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