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With the new economic slump, many people are trying to find ways to rebuild the economy and find the cause of the downward spiral that has recently plagued our country. In the quack of high unemployment, and many families losing their homes, many of the economists and researchers are looking to the outsourcing of jobs to other countries as the culprit for the dilemma. Is his belief true or false? The answer lies within each person’s individual belief, because politicians do not give all the information available about this new crises and the reason for it.
In a year of presidential elections, one only needs to look at the previous election to see that this same topic was prevalent. In 2004, John Kerry accused George W. Bush of “exporting” jobs to other countries so big business could save money. In fact, N. Gregory Mankiw stated that the outsourcing of jobs was just another type of trade on an international level. Even at that time, many opponents realized that the government was trying to make excuses for high unemployment and the loss of jobs in this country. With the end of the election, the topic lost steam and lay in the background for years (Drezner, 1; Dobbs, 1).
Now, in the smoke filled world of foreclosures, banks going under and financial giants losing their grasp of the world, the issue of outsourcing has again reared its head. Why? Because the majority of the public believe that the exporting of jobs is a major factor in the current slump. While manufacturing jobs have been lost to countries for lower wages, now the middle manager and white collar jobs are being shipped overseas to companies that charge much less then their American counterparts. This leaves the middle class American with few options and young Americans with unfulfilled dreams (Drezner, 1; Dobbs, 1).
Both sides of the argument believe that they are in the right. Those that applaud the globalization and outsourcing to other countries, truly or blindly believe that it is the best option for this country. They even believe that it will help to create higher paying jobs for Americans, while the mundane and manufacturing jobs are done elsewhere for less money. They fool themselves with this notion. The truth of the matter is that American companies shut down factories and outsource middle management or call center activities; they are hurting the American worker and the American economy (Dobbs, 1).
Look around and see the economy failing, banks losing, real estate stagnant. While the stock market roller coasters from downward spirals to euphoric rises, the economy is more imbalanced than ever. Multinational corporations will continue to layoff workers in the United States to give those jobs to people in other countries for less money. Is destroying our country worth a few dollars per employee? Most American would not agree. They would take up rank and fight, but until they have the correct information, and the government stops skewing the truth, the American people will suffer and the economy will fail.