Michael Spence Quotes

Outsourcing is inevitable, and I don't think it's necessarily treating people like things.

I invite you to leverage Serbia because we have talented young professionals who are multilingual, highly educated, and willing to work for competitive wages.

Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.

Low-wage jobs have gone offshore. We need to innovate to stay competitive.

Will the industry outsource more? I think it depends on the client base.

People are worried about what’s going to happen to their jobs. There’s a lot of off-shoring and out-sourcing taking place. There’s a lot more mobility of labor and of people. Unless we explain what’s happening, people will resort to protectionism and xenophobia.

Western companies want access to Indian talent. That is why they outsource; that is why they come to India to set up base.

One of the strengths of the U.S. economy is its ability to most efficiently employ resources both domestically and from around the world and outsourcing is one such example of this.

Smart businesses do not look at labor costs alone anymore. They do look at market access, transportation, telecommunications infrastructure and the education and skill level of the workforce, the development of capital and the regulatory market.

In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.

Yet in this global economy, no jobs are safe. High-speed Internet connections and low-cost, skilled labor overseas are an explosive combination.

The United States and Arizona are both losing jobs to offshore locations.

The bottom line is there are lots of problems that were not created by government. The biggest one is loss of middle class incomes, loss of good-paying jobs which was created by technology and globalization. Above all, when you can move a job to China or India, it reduces wages.

The Philippines ranks among top off-shoring hubs in the world because of cost competitiveness and, more importantly, our highly trainable, English proficient, IT-enabled management and manpower.

In the end, robots do things that people can do. So there is a cost above which you can hire somebody to do it, and that bounds the opportunity.

Competitiveness is really what it costs you per man-hour to get you what you want. In other words, there's an education level that plays into the mix and so if it's inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.

Businesses are no longer receiving the cost savings from outsourcing that they once did.

South Africa has all the tools to compete in the new global village - an eager workforce, ready to take on any challenge.

In the four decades after World War II, manufacturing jobs paid more than other jobs for given skills. But that is much less true today. Increased international competition has forced American manufacturers to reduce costs. As a result, the pay premium for low-skilled workers in manufacturing is smaller than it once was.

Every day more Americans watch their jobs being shipped overseas.

Indian IT corporations have made work in the U.S. much more efficient by enhancing their productivity and quality of work. We have helped to add sufficient value to the corporations in the U.S.

There are companies that are cutting their costs by over 50% by offshoring.

There is a large change coming in the jobs of America and competition from abroad. We should prepare for it rather than let history overwhelm us.

Despite all the political sound and fury, little service-sector offshoring has happened to date. But it may eventually amount to a third Industrial Revolution, and industrial revolutions have a way of transforming societies.

We want to export our products but not our jobs.