1.
U.S. markets recover from steep losses
DALLAS, Tenn., Feb. 27 (UPI) -- A senior economist at the Dallas Federal Reserve Monday said in the long run, offshore outsourcing results in overall economic gains.
Thomas F. Siems, in a newly released paper, says lower consumer prices, better products and higher productivity growth are among benefits of outsourcing to other nations.
Siems acknowledges although offshore outsourcing can negatively impact jobs and wages for some workers, it is better for the economy to accept the challenge of competition and resist the temptation of protectionism.
"Indeed, the secret to faster growth and greater prosperity lies in allowing individuals and businesses to do what they do best -- and outsource the rest," he says.
Globalization doesn't just mean increased competition; it opens opportunities for cooperation, says Siems. Through global outsourcing, companies become more dynamic.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
