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  3. Outsourcing Economics
  • Cited by 344
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    • Publisher:
      Cambridge University Press
      Publication date:
      05 April 2013
      29 April 2013
      ISBN:
      9781139208772
      9781107026995
      9781107609624
      DOI:
      https://doi.org/10.1017/CBO9781139208772
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.62kg, 376 Pages
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.5kg, 376 Pages
      • Subjects:
      Economics, Industrial Economics, International Economics
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    • Selected: Digital
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    Subjects:
    Economics, Industrial Economics, International Economics
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    Book description

    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.

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