Originally Posted by whoman69
The companies are profitable because they have wrung every ounce of money they can from outsourcing or paying lower wages to their non executive employees while paying immense amounts of money to those executives who have made the company so profitable. They could certainly hire if executive pay was inline with what it was 30 years ago. Minimum wage under that scenario would be $11/hr. How many aren't even making what the equivalent was for minimum wage?
This is also why the economy cannot grow. Companies need to realize the people they outsourced can no longer afford their products and certainly the ill paid people they hired can't either.
I don't have a problem with outsourcing. Outsourcing is a great thing. It means we get better prices. The theory of comparative advantage (in economics) is that if your country isn't great at making it, they should rely on another country to do it cheaper.
Rather than worry about outsourcing jobs, we should be encouraging the innovation that creates jobs that are uniquely American.