Obama's Outsourcing Ad is Demagogic Populism
I'm a generally a pro-Obama columnist, and I approve this message.
The 30-second ad that has been airing in recent days in
In fact, both Obama and Romney support outsourcing, the long-standing practice whereby U.S. companies manufacture overseas goods that are too costly to produce at home. And they should.
Outsourcing is not only a necessity in today's global economy, but often helps the U.S. economy by making U.S. exports more competitive abroad, and by allowing U.S. consumers to pay less for many goods.
And most of the claims against outsourcing by U.S. politicians, including Senate Democratic Majority Leader
Among the little-known facts about outsourcing that neither Obama nor Romney are daring to mention aloud:
First, contrary to the generalized perception, surveys of multinational firms show that proximity to foreign markets - and not low wages - is the main reason behind U.S. companies' investments abroad.
About 95 percent of the world's consumers are outside
Second, it is not true that most of the goods produced by U.S. companies in low-wage countries are manufactured abroad in order to be exported to
"By and large, U.S. companies do not invest overseas to ship goods or services back to
Third, contrary to popular perception, most U.S. foreign direct investments do not go to low-wage countries, but to rich countries such as
According to the
Fourth, we are in a global economy increasingly dominated by trade blocs, in which Asian and European countries respectively create supply chains within their regions to reduce costs. If
Fifth, regarding the phony political uproar over the Chinese-made U.S. Olympic uniforms,
Sixth, neither Obama nor Romney will likely impose anti-outsourcing rules that would result in U.S. consumers paying twice what they are paying now for their I-pads, TV sets or T-shirts.
My opinion: It's no mystery that Obama is using the outsourcing theme against Romney because he knows it may work. As
But Obama is deceiving public opinion (and Romney, too, by suggesting that he is also against outsourcing). When presidential candidates say things that they know are misleading, they help promote the idea that all politicians are liars, encourage voter apathy and hurt the democratic process. The "outsourcing versus insourcing" ad is populist demagoguery at its worse.
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Obama's Outsourcing Ad is Demagogic Populism | Politics
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