Treasury chief calls outsourcing a plus for US (3/30 Cincinnati Enquirer)

[papau]

http://www.boston.com/news/nation/articles/2004/03/31/treasury_chief_calls_outsourcing_a_plus_for_us/

Treasury chief calls outsourcing a plus for US
By Robert Gavin, Globe Staff, 3/31/2004

Treasury Secretary John W. Snow, in the latest sign that the Bush administration intends to directly defend free trade despite the loss of American jobs overseas, argued in an interview published yesterday that outsourcing ultimately helps the US economy.

Snow told The Cincinnati Enquirer that outsourcing "is a part of trade . . . and there can't be any doubt about the fact that trade makes the economy stronger." The comment echoed those made recently by two of President Bush's top economic advisers, N. Gregory Mankiw, chairman of the Council of Economic Advisers, and Stephen Friedman, director of the National Economic Council, who also suggested that shifting some jobs overseas would benefit the United States.

Political analysts said yesterday that the administration has apparently decided to address the issue of outsourcing head-on by arguing that free trade in the long run means greater choice for consumers, lower prices, and greater prosperity. Many economists, including the Federal Reserve chairman, Alan Greenspan, say the competition leads to the type of innovations that drive the US economy forward and ultimately create far more jobs than are lost.<snip>

[russian33]

1. Russian33 says he can see dead people

which statement is true?

[TreasonousBastard]

2. In the long run...

they're right.

But, in the words of another economist... "In the long run, we're all dead."

[On the Road]

4. Over Time, As Countries Rise and Fall

eventually countries will emerge which prove the principle of free trade. :crazy:

[orwell]

3. Rocket Science

Free trade benefits the strongest competitor. Period. Right now, as far as labor is concerned, free trade benefits China the most. As far as consumers are concerned it benefits the US the most.

So China is producing and the US is consuming. Does it take a rocket scientist to figure out who will come out on top of this arrangement?

O

[damnraddem]

6. Duh ...

Halliburton?

[damnraddem]

5. Losing your job is good for you.

your becoming a fry cook and starving on minimum wage will help the economy.

Now, let's see -- how can we outsource all of those fry cook jobs?