NYT - India Takes Economic Spotlight, and Critics Are Unkind
“Indians say they are doing exactly what the United States wanted, and bridle at the new criticism as a double standard.
“The U.S. is propagating capitalism ? we don’t really understand why they are so scared,” said Ravi Shankar, 36… “If you’re going to talk about competition, you should have no fear ? may the best man win.”
The thing I found most ironic about the whole outsourcing trend is this:
People in countries such as India have long wanted to emulate our lifestyle. So they invest in education, open their markets, and produce an educated workforce that is capable of performing the same white-collar jobs as Americans.
So, by developing the same factors of competition, efficiency and education that made America great, American jobs are now going to India.
We’ve got nobody to blame but ourselves for this. These countries are doing the same things that America is doing (albeit at a smaller scale), and as a result of out beloved free-market competition, these countries are benefitting at our expense. There’s a definite element of schadenfreude to all of this.
Which begs to mind the question: What is the next stage of American economic development in the global free market age? Will it be the gradual progression to socialism, as Marx predicted? Or will it be a service-based economy where the only jobs left are those that can’t be outsourced?
At least we can be assured that cheap labor will lower the costs of goods and services to correspond with our lowered incomes. (snark!)