Managing the Outsourcing

A. Coskun Samli

Chapter Chapter 8 in Dynamic Markets and Conventional Ignorance, 2014, pp 81-93 from Palgrave Macmillan

Abstract: Abstract One of the problems relating to ignorance about the market system is that the system does not think, does not plan for future, and does not make provisions for expected and unexpected emergencies. The market system simply reacts one way or the other. Although it is not one of the major functions of the government as discussed in chapter 4, a major problem with the American economy is outsourcing. As globalization becomes more and more widespread, outsourcing becomes a burden or benefit for individual national governments in the world. Outsourcing, at the point of writing this book, is a major drain on the American economy. It exports well-paying jobs overseas and contributes to the national debt in big numbers. If the American system had a MITI (Ministry of International Trade and Industry) patterned after an older Japanese concept that detected the major drains on the national economy and developed counteracting measures, our economy may not have ended up in the current situation.

Keywords: Market System; Dynamic Market; Major Drain; Unfair Trade; Japanese Concept (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37021-1_9

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DOI: 10.1057/9781137370211_9

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