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Essay / The replaceable worker: the impact of outsourcing on...
One in nine American jobs is vulnerable to outsourcing. This represents more than 14 million jobs in total (Hira 2). Guaranteed protection against the impending economic crisis is not certain. According to the Merriam-Webster, outsourcing can be described as obtaining goods or services from an outside or foreign supplier. The origins of outsourcing date back to the first industrial revolution, when business tycoons began looking for new methods to increase revenue while minimizing expenses. Similarly, business tycoons of the 20th century continue to practice the same ideals of increasing profit per capita. Moreover, these techniques have evolved to evoke the very example of outsourcing that is vitiating the American economy today. Although some entrepreneurs may view outsourcing as a tricky business strategy, outsourcing has surreptitiously caused irreversible harm to today's economy by causing unemployment rates to escalate, allowing greedy companies to profit with one hand -underpaid foreign labor, which favored globalization. Outsourcing has damaged the U.S. economy by precipitating job losses across the country. Unemployment continues to experience increasing rates as various companies continue to exploit the outsourcing paradigm. As a result, persistently high unemployment rates delay economic recovery (Goldberg 1). In particular, the employment rate is a direct reflection of the health of an economy. For the economy to strengthen, citizens must make contributions such as purchasing goods and paying taxes. Unfortunately, unemployed people without income cannot contribute to the economy. Middle of paper Workers are the hardest hit by globalization, they are considered the bottom of the food chain. Rebuilding America. Prod. CNBC. Perf. Jeff Immelt, Bill Ford and Leo W. Gerard. MediaGroup Movies/Films on Demand, 2010. Edison State College/eResource. Internet. November 12, 2013. A Consumer News and Business Channel program that addresses unanswered questions about outsourcing. These questions include: How can America bring more jobs back to the United States and revitalize our communities? Highlights the misuse of tax shelters in other countries by companies that outsource jobs. Bill Ford, executive chairman of Ford; Jeff Immelt, chairman and CEO of GE; Léo W. Gérard; International President of United Steelworks is asked questions regarding outsourcing interchangeably during a panel interview. Marketed as propaganda and attempts to appeal to the general public.