In Defense of Outsourcing. In Defense of Outsourcing.

In Defense of Outsourcing‪.‬

The Cato Journal 2005, Spring-Summer, 25, 2

    • 2,99 €
    • 2,99 €

Publisher Description

You probably did not sew the clothes you are wearing as you read this, nor did you grow the food you will eat today. You also didn't build your own home, manufacture your own car, perform your own dentistry, or cut your own hair. You may not clean your own house or mow your own lawn. If you're single you may opt for a dating service to find romance, and once you've found it you may delegate part of your child rearing to a day-care service. In other words, you outsource in your personal life. Everyone does, and with good reason. I am not grotesquely less competent at the ordinary tasks of life than my fellow citizens. But if I tried to produce personally all or most of what my family consumes, my family would face a dirt-poor standard of living. Adam Smith ([1776] 1994: 485-86), patron saint of economists, recognized this lesson two centuries ago, writing, "It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy." Smith also noted that the logic of outsourcing applied to nations as well as householders. He continued: "What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom."

GENRE
Politics & Current Affairs
RELEASED
2005
22 March
LANGUAGE
EN
English
LENGTH
18
Pages
PUBLISHER
Cato Institute
SIZE
233.8
KB

More Books by The Cato Journal

Will Emerging Markets Escape the Next Big Systemic Financial Crisis? Will Emerging Markets Escape the Next Big Systemic Financial Crisis?
2006
Economic Freedom, Institutional Quality, And Cross-Country Differences in Income and Growth. Economic Freedom, Institutional Quality, And Cross-Country Differences in Income and Growth.
2004
Never a Matter of Indifference: Sustaining Virtue in a Free Republic (Book Review) Never a Matter of Indifference: Sustaining Virtue in a Free Republic (Book Review)
2004
Meltzer's History of the Federal Reserve and the Evolution of Central Banking (Book Review) Meltzer's History of the Federal Reserve and the Evolution of Central Banking (Book Review)
2003
First Among Equals: The Supreme Court in American Life (Book Review) First Among Equals: The Supreme Court in American Life (Book Review)
2003
Integrating China Into the Global Economy (Book Review) Integrating China Into the Global Economy (Book Review)
2003