The outsourcing debate
Krogh, Peter F. (Peter Frederic)
Person InterviewedChandler, Marc
Cohen, Abby J.
Glassman, James K.
Examines the debate over the benefits of outsourcing and its impact on American jobs.
In 2004 economist N. Gregory Mankiw, speaking as President Bush's chief economic advisor, stated that outsourcing is just "a new way of doing international trade". Although Mankiw's comments immediately came under fire from both Democratic and Republican politicians, the assessment reflected a sensitive and ongoing debate in American public policy, namely, is outsourcing good for the American economy? With American companies sending more and more jobs overseas in an era of increasing economic globalization, the debate over the benefits and disadvantages of outsourcing intensified. While fiscal conservatives pointed to lower production costs and cheaper goods as benefits of outsourcing, others worried about the impact on American workers. Who benefits from outsourcing, and how much of a threat does it pose to American jobs? In this episode hosted by Peter Krogh, the Foreign Policy Association presents a panel discussion on outsourcing and the uncertain effects of an increasingly global economy. Featuring ABC Nightline correspondent John Donvan, Abby Joseph Cohen, Chair of the Investment Policy Committee for Goldman Sachs, Ethan Harris, Chief U.S. Economist and Managing Director of Lehman Brothers, Jim Glassman, Chief Economist and Managing Director of J.P. Morgan Chase, and Marc Chandler, Senior Vice President at HSBC Bank USA.
North America; United States;
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