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Adam Smith on outsourcing.(Uncommon Sense)
From: Assembly
Date: 20031101
Author:Donegani, Martin
Outsourcing is one of the marvels of the "new economy," and it is interesting to speculate what the father of the "old economy" would think of it. The principles underlying Adam Smith's work, The Wealth of Nations, were based on gains from the trade that exists in dynamic, free markets. Companies and countries that overcame the barriers to trade would reap the rewards. Those that did not overcome the barriers would forever be beholden to those that did.
To paraphrase Smith, the main barriers to trade then--and now--involve information, negotiation, transportation and ...
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