<$BlogRSDURL$>
Radically Inept
Friday, April 02, 2004
  Brad DeLong's Semi-Daily Journal writes on Outsourcing

Over at Brad DeLong's Semi-Daily Journal :
Stephen S. Cohen and J. Bradford DeLong have been thinking About Outsourcing
and have posted a first rough cut "Our Outsourced Future" Draft 1.3"
It is well worth the read, so go read it, or my comments may not make sense.

I agree with much of what they say, but I think they, as economists are wont to do, over complicate the obvious. When the supply of available labor exceeds demand, the value of labor falls. I think that's fairly simple. When women entered the work force, the nearly doubled the available labor, and real wages have been stagnant ever since. Now we have globalization, which will increase the pool of labor enormously, so expect wages to stay stagnant, and probably fall in real terms, for the next generation.

The other problem I see with their argument is that it appears to isolate the effect of outsourcing from productivity gains resulting from improved technologies. And, I think that is why they can write it in such a non-alarmist fashion. When the cost of capital is cheaper than the cost of labor, business invest in machines not workers. I think that when you add the future gains in productivity, just from improved technologies, with the increased competition from a world wide labor pool, you should become alarmed. If the market pursues this direction unchecked, the only people that will make money are those who already have enough money to invest.

Third, this transition will not be easy regardless of what policies we put in place, but I think one place to start changing the focus of education on preparing the student to enter a work force in a job, to one where the student is prepared for a life time of entrepreneurship. Those have been, are and will be the best skills for success. But, that still leaves us in a Darwinistic mess of only the strong will survive. Which many may find acceptable, but I personally do not like the idea of billions of people starving and shut out of the economy.

I have no final ideas on the subject, but I do think my post Rogue Analyst: "It's your information, WHY SHOULDN'T YOU GET PAID?!!", which is in the archives from Feb 2, '04, is a valid approach to some sort of transition vehicle.

And on a lighter note, if you haven't read it yet, my attempt at satire from 12 March '04 in the archives about here: BLOGGER :: Manage Posts: "A Modest Proposal: A Solution to the Problem of Poverty in America". It should be relatively easy to find, as it's the only one that I've gone back and put a title to from that period. 
|
Comments:
Thank you a lot for sharing this with all people you actually recognize what you're speaking approximately! Bookmarked. Kindly also discuss with my site =). We will have a hyperlink exchange contract between us

Here is my page: Psn Code Generator
 
I think this is one of the most important info for me.
And i am glad reading your article. But should remark on some general things, The website style
is great, the articles is really excellent : D.
Good job, cheers

My weblog - pirater un Compte facebook
 
Hello There. I found your weblog the usage of msn.
This is an extremely well written article. I will make sure
to bookmark it and come back to read more
of your helpful information. Thanks for the post. I will certainly comeback.



Also visit my blog - Dragon City Hack
 
You should take part in a contest for one of the most useful
sites online. I most certainly will highly recommend this web site!



Stop by my blog post: Generateur De Code PSN
 
Post a Comment
GEORGE W. BUSH - TOUGH ENOUGH TO TORTURE CHILDREN
Any subsidiaries, affiliates, officers, agents, or employees of any site employing compulsory user registration mechanisms are not authorized to access the content or services of this site.

ARCHIVES
02/15/2004 - 02/22/2004 / 02/22/2004 - 02/29/2004 / 03/07/2004 - 03/14/2004 / 03/14/2004 - 03/21/2004 / 03/21/2004 - 03/28/2004 / 03/28/2004 - 04/04/2004 / 04/04/2004 - 04/11/2004 / 04/11/2004 - 04/18/2004 / 04/18/2004 - 04/25/2004 / 04/25/2004 - 05/02/2004 / 05/02/2004 - 05/09/2004 / 05/09/2004 - 05/16/2004 / 05/16/2004 - 05/23/2004 / 05/23/2004 - 05/30/2004 / 05/30/2004 - 06/06/2004 / 06/06/2004 - 06/13/2004 / 06/13/2004 - 06/20/2004 / 06/20/2004 - 06/27/2004 / 06/27/2004 - 07/04/2004 / 07/04/2004 - 07/11/2004 / 07/11/2004 - 07/18/2004 / 07/18/2004 - 07/25/2004 / 07/25/2004 - 08/01/2004 / 08/01/2004 - 08/08/2004 / 08/08/2004 - 08/15/2004 / 08/15/2004 - 08/22/2004 / 08/22/2004 - 08/29/2004 / 08/29/2004 - 09/05/2004 / 09/05/2004 - 09/12/2004 / 09/12/2004 - 09/19/2004 / 09/19/2004 - 09/26/2004 / 09/26/2004 - 10/03/2004 / 10/03/2004 - 10/10/2004 / 10/10/2004 - 10/17/2004 / 10/17/2004 - 10/24/2004 / 10/24/2004 - 10/31/2004 / 10/31/2004 - 11/07/2004 / 11/07/2004 - 11/14/2004 / 11/14/2004 - 11/21/2004 / 11/21/2004 - 11/28/2004 / 11/28/2004 - 12/05/2004 / 12/05/2004 - 12/12/2004 / 12/12/2004 - 12/19/2004 / 12/26/2004 - 01/02/2005 / 01/02/2005 - 01/09/2005 / 01/09/2005 - 01/16/2005 / 08/28/2005 - 09/04/2005 / 09/11/2005 - 09/18/2005 /


  • Site Feed

  • Back to Radically Inept Main Page

  • Selected pieces cross posted at:
  • American Samizdat


  • Authors' Bios:
  • Somewhat accurate, no where close to complete
  • Photo
  • Rick Eddy's bio

  • Radically Inept attempts at shorts, and personal vignettes:
  • A Modest Proposal: A Solution to the Problem of Poverty in America
  • Wherein I confess my complete ignorance of 'common knowledge'
  • Learning from Mikey
  • I remember the Army...
  • A memory hole

  • Rick Eddy pieces:
  • Osama's Hair Stylist
  • Speed and Shorty come by for a visit
  • A rant and a Prediction
  • Rick Eddy on NASCAR and 'Bidness'
  • The continuing saga of Rick Eddy on The Temple of Doom:
  • Rick Eddy on the Temple of Doom (Part One)
  • Rick Eddy on the Temple of Doom (Part Two)
  • Rick Eddy on the Temple of Doom (Part Three)
  • Rick Eddy on the Temple of Doom (Part Four)
  • Rick Eddy on the Temple of Doom (Part Five)


  • The Dailys:
  • lies.com
  • MaxSpeak
  • pandagon.net
  • The Blogging of the President: 2004
  • Modulator
  • North Georgia Dogma
  • The Corpus Callosum
  • Drunken Monkey Style Blogging
  • Fafblog! the whole worlds only source for Fafblog.

  • As time permits:
  • Intel Dump
  • Orcinus Fair and Balanced
  • FuturePundit.com
  • Brad DeLong's Semi-Daily Journal a Weblog
  • Marginal Revolution
  • How Appealing
  • Chris C Mooney
  • Kevin Drum
  • Cyborg Democracy
  • Cursor.org
  • Iraq Now
  • butterfliesandwheels.com
  • Atrios
  • Talking Points Memo
  • Roger Ailes
  • The Panda's Thumb
  • corrente
  • WorldChanging: Another World Is Here
  • The Truth Laid Bear
  • Fables of the reconstruction
  • Oliver Willis: Like Kryptonite To Stupid
  • Kieran Healy's Weblog
  • Happy Furry Puppy Story Time with Norbizness
  • TheAgitator.com
  • Paperwight's Fair Shot
  • Lotus - Surviving a Dark Time
  • thoughts on the eve of the apocalypse
  • The River
  • Mind is Moving
  • commonSci
  • dr. menlo: promoting people over profits since 2000
  • Where We're Bound
  • Boing Boing: A Directory of Wonderful Things
  • NET POLITIK
  • Public Domain Progress

  • Infrequent, but worthy posters:
  • Rogue Analyst (My other blog)
  • CenterPoint - A Centrist Weblog
  • scratchings
  • Inspector Lohmann


  • Excellent sources of info:
  • Farmers and Consumers Market Bulletin
  • TomDispatch
  • KurzweilAI.net
  • Open Government Information Awareness
  • SPACE.com
  • Agnosticism / Atheism - Skeptical Inquiry, Freethought, & Religious Philosophy
  • Defense and the National Interest
  • Google News
  • TCS: Tech Central Station - Where Free Markets Meet Technology
  • ajeeb, News
  • Corp Watch
  • Center for Strategic & Budgetary Assessments
  • GlobalSecurity.org
  • Moving Ideas: Connecting You To The Progressive Community
  • The Memory Hole [rescuing knowledge, freeing information]
  • The International Campaign for Justice in Bhopal
  • -:| CHINA TODAY |:-
  • Alex Jones' Prison Planet.com: The Earth Is Being Turned Into A Prison Planet
  • Alex Jones Presents Infowars.com to Fight the New World Order --There's a War on For Your Mind
  • THE WAR IN CONTEXT:: Iraq, the War on Terrorism, and the Middle East Conflict - in Critical Perspective


  • Fun and off the beaten path:
  • GHOST TOWN - Chernobyl Pictures - Kidofspeed - Elena
  • Cooperative Extension Service (GA)- Publications
  • MEGA START PAGE
  • The Vaults of Erowid
  • Eyeballing Series


  • What I'm listening to:
  • Radio Paradise - eclectic online rock radio
  • Shameless plug
  • Big Rock Studio Technologies


  • Powered by Blogger

    Weblog Commenting and Trackback by HaloScan.com Site Meter