Evolutionary Pressure

Outsourcing costs jobs right?  It is bad for the economy; exporting jobs to low wage countries.

Well maybe not.  In an interesting economics paper John van Reenen of the LSE puts a different slant on it.  His view is that the increased imports from China and India have led to job losses in areas of low skilled work.  These job losses have, however, in some part been replaced by the development of highly skilled technological roles.

Companies in the US and Europe have responded to competitive pressure from the East by upping their game, developing more technologically advanced products and services.

Unfortunately this combination of increased trade and the development of highly skilled roles has not been kind to those on the bottom rung of the economic ladder.

It was ever so.

To quote Charles Darwin: “In the long history of humankind (and animal kind, too) those who learned to collaborate and improvise most effectively have prevailed.”

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