Outsourcing—the subject of intense controversy this election year—is blamed for the loss of jobs in the United States, but outsourcing should be nothing new to Americans. The founding and development of America is the result of English outsourcing in the seventeenth and eighteenth centuries.
The flat tax has been remarkably successful by every conceivable measure, and has encouraged such other countries as Serbia (2003), Ukraine (2004), and Slovakia (2004) to implement flat taxes of their own.
Does outsourcing—whether it means the transfer of customer service and high-tech jobs to India or of manufacturing jobs to China—benefit the American economy or harm it? And if American workers are being harmed by outsourcing, what should be done about it? Do we need legislation to prevent corporations from sending jobs overseas? Or should we focus our attention on creating new opportunities for the American labor force through education and job training?
Georgia's new president, Mikhail Saakashvili, stated his new government's top two economic priorities. The first is to introduce a new flat-rate tax system. The second is to create incentives for foreign investors.
Like all business decisions, the wisdom or miscalculation of the purchase of Bank One by J.P. Morgan Chase will be evaluated by future returns and share prices. How does this story compare with Russia?
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.