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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: microhoogle! who wrote (453025)	9/5/2003 11:17:09 AM
From: Eashoa' M'sheekha	Read Replies (2) \| Respond to of 769667

>>A new study by the McKinsey Global Institute, the think tank of the consulting firm McKinsey & Co.,<< A NOTED pro " send jobs to the cheapest country "stink tank. >>suggests why. When a firm ships a $60-an-hour software job to a $6-an-hour code writer in India, the most obvious benefit goes to the Indian. But, the McKinsey study reports, the U.S. economy receives at least two-thirds of the benefit from offshore outsourcing, compared with the third gained by the lower-wage countries receiving the jobs.<< Fuzzy math. >>American firms and consumers enjoy reduced costs.<< Certain firms do,but there is no evidence the reduced costs are being passed on directly to the consumer,and when they do,they create disparity that encourages other competing firms to adjust their workforce likewise. >> Larger profits can be reinvested in more innovative businesses at home.<< There are no guaranties the increased profits will be re-invested at home,and more likely, the re-investment will be enhanced abroad. >>New and expanding subcontractors abroad create new markets for U.S. products.<< A stretch by any standard.Those making their six dollars an hour in third world countries are more likely to buy basic goods that are produced locally.There are few six dollar an hour IT workers in these counties buying ANYTHING made in America. >>And, at least theoretically, displaced U.S. workers will find new jobs in more dynamic industries.<< IT workers are trained in the World of IT.Period.It IS the dynamic industry of today. Maybe they figure McDonalds is the new dynamic industry? HAR! Read About Henry Ford When You An Opportunity : pbs.org +++++Ford had another notion, rather original in its time: the workers were also potential consumers! In 1914, Ford workers' wages were raised to $5 a day -- an excellent wage -- and they soon proved him right by buying their own Model Ts. Ford was called "a traitor to his class" by other industrialists and professionals, but he held firm in believing that well-paid workers would put up with dull work, be loyal, and buy his cars. Ford's manufacturing principles were adopted by countless other industries. Henry Ford went beyond his 1907 goal of making cars affordable for all; he changed the habits of a nation, and shaped its very character.++++ Poor Henry would be disgusted with today's industrialists. KC