Outsourcing Economics - Milberg, William; Winkler, Deborah
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Outsourcing Economics has a double meaning. First, it is a book about the economics of outsourcing. Second, it examines the way that economists have understood globalization as a pure market phenomenon, and as a result have 'outsourced' the explanation of world economic forces to other disciplines. Markets are embedded in a set of institutions - labor, government, corporate, civil society, and household - that mold the power asymmetries that influence the distribution of the gains from globalization. In this book, William Milberg and Deborah Winkler propose an institutional theory of trade and…mehr

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Produktbeschreibung
Outsourcing Economics has a double meaning. First, it is a book about the economics of outsourcing. Second, it examines the way that economists have understood globalization as a pure market phenomenon, and as a result have 'outsourced' the explanation of world economic forces to other disciplines. Markets are embedded in a set of institutions - labor, government, corporate, civil society, and household - that mold the power asymmetries that influence the distribution of the gains from globalization. In this book, William Milberg and Deborah Winkler propose an institutional theory of trade and development starting with the growth of global value chains - international networks of production that have restructured the global economy and its governance over the past twenty-five years. They find that offshoring leads to greater economic insecurity in industrialized countries that lack institutions supporting workers. They also find that offshoring allows firms to reduce domestic investment and focus on finance and short-run stock movements.
Autorenporträt
William Milberg is Professor of Economics at the New School for Social Research in New York. He has served as a consultant to the International Labor Organization (ILO), the World Bank, and the UN Conference on Trade and Development (UNCTAD). He is the author (with Robert Heilbroner) of The Making of Economic Society and The Crisis of Vision in Modern Economic Thought, and the editor of Labor and the Globalization of Production, as well as the author of numerous articles on the labor market effects of international trade and on the methodology of economics. Professor Milberg received his PhD in economics from Rutgers University.