Question

What is the ideal policy or policies for minimizing job outsourcing to foreign countries?

Answer 1

In order to regain prosperity, the United States must limit IT outsourcing, ensure high-paid jobs go to U.S. citizens, and even promote the democratic process. Advanced education and creative thought participation should promote informed decision-making. To keep a democracy going, these skills are needed. Federal funds should be used to outsource white papers to fix the supply side of the problem. Scholarships, loans, and scholarships would allow more U.S. college students in the STEM fields to graduate. These are science, engineering, technology, and math.

Educating the American population would help to reduce reliance on new workers being imported. But this will only go so far, as workers in the U.S. still need higher wages than workers in India or China. Second, lower the number of visas forH-1. This is only a temporary solution, once again. U.S. companies can save up to 10 percent by exporting software, whether the employee is in the U.S. or abroad. Increasing outsourcing software by increasing visa requirements or even enacting laws banning outsourcing will only raise costs for U.S.-based companies and reduce profitability.

Second, do the same as the emerging markets do. Once they sell to the U.S. market, they allow foreign companies to hire U.S. employees. Higher prices for these imported goods are the downside of that. That's exactly what happened to Japanese cars before they opened U.S. manufacturing plants, which used to be much cheaper.The success of U.S. companies is due to the competitive environment that allows for the introduction and competitiveness of innovators, innovations, and organizational types. This promotes productivity and lowers stagnation. This is a function of venture capital, linkages between the study of a company and its end users, and competitive labor markets. The United States needs to promote this climate in order to remain competitive and not rely on protectionism and tax penalties that hinder it.