Tuesday, June 13, 2006

One for the "I told you so" file

The new issue of the IMF Survey reports:
A recent IMF Working Paper by Mary Amiti and Shang-Jin Wei explores the offshoring phenomenon and finds evidence that a small number of jobs have, indeed, been lost in manufacturing industries. However, it also finds that offshoring has boosted labor productivity in the United States and that, partly because of this, there has been offsetting job creation elsewhere in the economy.
This sounds right, but from my personal perspective, it is about 28 months late.

I wonder if Denny Hastert reads the IMF Survey.