- Title Pages
- Part I Global Warming
- Chapter 1 Climate Change
- Chapter 2 Global Climate Change
- Chapter 3 A New Agenda for Global Warming
- Chapter 4 A Meaningful Second Commitment Period for the Kyoto Protocol
- Part II The International Economy
- Chapter 5 Divergent Views on the Coming Dollar Crisis
- Chapter 6 U.S. Offshoring
- Chapter 7 Advance Market Commitments
- Chapter 8 Should We Still Support Untrammeled International Capital Mobility? Or Are Capital Controls Less Evil Than We Once Believed?
- Part III Economics of the Iraq War
- Chapter 9 The Economic Cost of the Iraq War
- Chapter 10 The High Cost of the Iraq War
- Part IV Fiscal Policy
- Chapter 11 Sense and Nonsense About Federal Deficits and Debt
- Chapter 12 Government Deficits and the Deindustrialization of America
- Part V Social Security
- Chapter 13 Confusions About Social Security
- Chapter 14 The Many Definitions of Social Security Privatization
- Chapter 15 The Virtues of Personal Accounts for Social Security
- Chapter 16 Could Social Security Go Broke?
- Part VI Tax Reform
- Chapter 17 A Broader Perspective on the Tax Reform Debate
- Chapter 18 Tax Reform
- Chapter 19 Taxes on Investment Income Remain Too High and Lead to Multiple Distortions
- Chapter 20 Progressive Consumption Taxation as a Remedy for the U.S. Savings Shortfall
- Part VII Social Policy
- Chapter 21 Was Welfare Reform Successful?
- Chapter 22 Cutting the Safety Net One Strand at a Time
- Chapter 23 The Choose-Your-Charity Tax
- Chapter 24 Should the Government Rebuild New Orleans or Just Give Residents Checks?
- Chapter 25 Does College Still Pay?
- Chapter 26 How to Deal with Terrorism
- Part VIII The Death Penalty
- Chapter 27 The Economics of Capital Punishment
- Chapter 28 On the Economics of Capital Punishment
- Chapter 29 The Death Penalty
- Chapter 30 Reply to Donohue and Wolfers on the Death Penalty and Deterrence
- Chapter 31 Letter
- Chapter 32 Reply
- Part IX Real Estate
- Chapter 33 Long-Term Perspectives on the Current Boom in Home Prices
- Chapter 34 The Menace of an Unchecked Housing Bubble
- Chapter 35 What to Do About Fannie and Freddie?
Small Steps to Make It Win-Win
- (p.43) Chapter 6 U.S. Offshoring
- The Economists' Voice
- Columbia University Press
This chapter considers the issue of offshoring. The United States leads the world in offshoring white-collar jobs to low-wage countries. Today they employ more than 900,000 service workers overseas. But widespread concern about the effects on the U.S. job market has prompted policymakers to call for curbs on offshoring, and some states have already adopted such policies. It is argued that fears about job losses and wage cuts in the United States due to offshoring are vastly overstated. Protectionism may save a few jobs for a while, but it will stifle innovation and job creation in the longer term. Rather than trying to stop globalization, the goal must be to let it happen, while easing the transition for workers who lose out.
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