Financial websites get some great headlines sometimes. A few years back the now-defunct Green magazine (URL now hosting John Deere enthusiasts) had one titled “Young Dumb and Full of QCOM.” But today’s Motley Fool article about the Glenmorangie distillery is priceless: Scotch: Not Just For Breakfast Anymore.
There’s also a more serious article about outsourcing and economic risk and the elections and although it’s OK it’s not great. Outsourcing isn’t necessarily a bad thing. It’s bad if you assume that there is a static amount of wealth in the world, and that every job created in India takes one away from an American. But the fact is, that’s just not true. Outsourcing will be difficult, and it will result in the loss of jobs in America. But it will also lead to the most efficient allocation of resources. Cost pressure is pressure to outsource. Combine that with a socially generated pressure to outsource slowly and to increase standards of living and worker and environmental protection in the target countries, and you’ll get a higher standard of living for the world, not just for Americans.
Nobody I know is against globalization. Not really. They might say it, but the fact is they all want an iPod and a well-made inexpensive car and a bottle of Shiraz from Australia and Belgian chocolates and Chilean out-of-season strawberries. Who doesn’t? Those are nice things. They are globalization.
Secretly Ironic 