Monday, November 15, 2004

Lengthy but worth it

The Economist has a great survey on outsourcing. Among other gems, I found that
McKinsey calculates that for every dollar American firms spend on service work from India, the American economy receives $1.14 in return. This calculation depends in large part on the ability of America's economy to create new jobs for displaced workers. America's labour market is a miracle of flexibility: it creates and destroys nearly 30m jobs a year.
Also in the lengthy-but-worth-it department: the latest issue of City Jounal. Theodore Dalrymple and Kay Hymowitz wrote powerful pieces on the on tragedy of the broken family in the underclass respecively among the British and inner-city blacks. Also check out Heather Mac Donald's and John Fund's pieces.


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