Jagdish Bhagwati, Alan S. Blinder, "Offshoring of American Jobs: What Response from U.S. Economic Policy?"  
The MIT Press | 2009 | ISBN: 0262013320 | 144 pages | PDF | 1,1 MB




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It is no surprise that many fearful American workers see the callcenter operator in Bangalore or the factory worker in Guangzhou as athreat to their jobs. The emergence of China and India (along withother, smaller developing countries) as economic powers has doubled thesupply of labor to the integrated world economy. Economic theorysuggests that such a dramatic increase in the supply of labor withoutan accompanying increase in the supply of capital is likely to exertdownward pressure on wages for workers already in the integrated worldeconomy, and wages for most workers in the United States have indeedstagnated or declined. In this book, leading economists JagdishBhagwati and Alan S. Blinder offer their perspectives on how theoutsourcing of labor and the shifting of jobs to lower-wage countriesaffect the U.S. economy and what, if any, policy responses are required.

Bhagwati, in his colorful and pithy style, focuses on globalization andfree trade, while Blinder, erudite and witty, addresses thesignificance of labor market adjustment caused by trade. Bhagwati's andBlinder's contributions are followed by comments from economistsRichard Freedman, Douglas A. Irwin, Lori G. Kletzer, and Robert Z.Lawrence. Bhagwati and Blinder then respond separately to the issuesraised. Benjamin Friedman, who edited this volume (and organized thesymposium that inspired it), provides an introduction.