I just read a snippet in the Money Section of today's USA Today that IBM "plans to invest $6 billion in India over the next 3 years underscoring the country's growing importance as a global hub for information outsourcing".
According to the article IBM already employs 43,000 in 14 cities. (That's 12% of IBM's employees that have been exported to India). How many more jobs will be lost in the USA for this important hub?
Question of the day: Do we as a society really benefit from the savings of cheap labor rates? Are our costs really lower? If so, by how much? What about the social cost of lost high paying jobs?
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