is outsourcing good for the american economy and the world?

Answer 1

Yes it is good for the country as a whole.. but individuals do suffer. A country specializing is like each individual specializing. As my international trade professor says,
"If you've ever seen little house on the prairie.. they did everything themselves. They made clothes grew food and built their own house.. they only thing is that they were POOR.. If you go out and try to do everything by yourself I will be very proud of you.. but you will be poor."

The same thing applies to countries. International trade makes them richer and countries come out better even though certain individuals may lose their job. This is why we should invest more government spending into training or re-training people for mid career changes that way they are able to adapt more quickly.

Free trade is especially beneficial for developing countries to help them grow.. Now there are certain tariffs America puts on certain goods that hinders that.. but that's a completely different story.

Answer 2

Outsourcing is a derrogatory term do describe the free trade of labour, goods and services. The justification goes back to the 1800's and the days of Ricardo (comparative asvantage), but put simply, exporting the production/supply of goods and services a country is relatively less productive in and concentratiing on those they can produce at a lower opportunity cost (look it up), they can produce more given their resources, export more, import more and enjoy a higher standard of living.

The purpose of trade is to aquire imports to increase one's standard of living, not maximise net exports and to ugget anything else is false.

Answer 3

No, give those jobs to the home bound, homemakers, and stay at home moms in America!