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American Companies are the Architects of their Own Demise |
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Friday, 24 October 2008 04:10 |
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By Ken Williamson American companies have repeatedly outsourced American jobs to Third World countries for over twenty years now. That practice has been amplified over the last eight years. Factory jobs were the first to go, but over the last eight years the practice has turned to white collar jobs like software engineering jobs, insurance claim processing jobs, and even accounting jobs. Most of these displaced workers are college educated, but are often forced to accept low paying jobs just to survive. Well, so much for getting a good education. American companies are forgetting one small and important thing; with little money and no credit, Americans stop spending. And that is the very essence of the economic downturn that very well may become a depression and it's all perpetrated by greedy American companies. Take for example Joe the software engineer. Joe has a master's degree in Computer Science and ten years of experience. But in an effort to increase profits and allow for larger executive bonuses, Joe's employer decided to shut down its software development division in Chicago and open a new division in India. In India, they were able to hire software engineers for a fraction of what they paid Joe. So, Joe went job hunting.
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Last Updated ( Saturday, 25 October 2008 19:52 )
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