Not quite, according to this study by economists at the London School of Economics.

Quote:We find that offshoring has no effect on native
employment in the aggregate, while the effect of immigration on native employment is positive. This hints at the presence of a “productivity effect" whereby offshoring and immigration improve industry efficiency, thereby creating new jobs.

It's just over two years old, but I figure that they'd reach the same conclusions if they conducted their research today.

http://cep.lse.ac.uk/pubs/download/dp1147.pdf

It may produce more white collar jobs, but it would be hard to convince me that it doesn't hurt those that work/worked blue collar jobs.

(06-21-2014 12:25 PM)Niner National Wrote:  It may produce more white collar jobs, but it would be hard to convince me that it doesn't hurt those that work/worked blue collar jobs.

If owners of companies that offshore jobs reinvest their additional profits in goods and services produced domestically, then it can replace jobs that were lost. If they just buy more imported goods, not so much.

(06-22-2014 09:01 AM)chargeradio Wrote:  

(06-21-2014 12:25 PM)Niner National Wrote:  It may produce more white collar jobs, but it would be hard to convince me that it doesn't hurt those that work/worked blue collar jobs.

If owners of companies that offshore jobs reinvest their additional profits in goods and services produced domestically, then it can replace jobs that were lost. If they just buy more imported goods, not so much.

They're doing neither. To avoid repatriation taxes, they are leaving money overseas. It's being reinvested, but there rather than here.

Rand Paul on Face the Nation wants repatriation of this money to build roads,
but says nothing much about how to do it.

(06-22-2014 09:25 AM)GoApps70 Wrote:  Rand Paul on Face the Nation wants repatriation of this money to build roads, but says nothing much about how to do it.

What I have discussed with him, and I think he agrees, is to do what both Bowles-Simpson and Domenici-Rivlin recommended. Lower US corporate tax rates to world-competitive levels and join the rest of the world in adopting a territorial tax system.

My idea for infrastructure specifically is something I have never discussed with Rand, but have done so with his dad, who agrees, and that is to privatize the federal infrastructure activities--interstate highways (national toll road network), post office, air traffic control, TVA and the western power agencies, reclamation agencies. Transfer the assets to the social security fund in repayment of debts owed. Set them up to earn 5% ROI, and use that money to pay down the social security deficit. Invest social security funds in them going forward to provide a source of capital. Ultimately, equities in these companies could become the basis for privatizing a portion of social security.