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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: fatty who wrote (16740)	2/5/2004 2:40:16 PM
From: gpowell	Read Replies (2) \| Respond to of 306849

While having your job function outsourced sucks, there is a net benefit produced from this activity. Consider that in saving on labor cost, a firm’s productivity increases and this should yield an increase in product supplied and perhaps lower final price. Thus, both consumers and the remaining workers unambiguously benefit. While your utility has been lowered, meaning the degree to which your wants are satisfied, the world's utility has increased a bit more than your loss. If some of your lost wages are earned by a foreign worker, those dollars still make it back to the US in one form or another. Thus, your loss most likely contributes to an Infinitesimal rise in GDP.