The issue without outsourcing is that the benefits are widespread (lower prices!) but the drawbacks are concentrated (factory town is now a hellhole). And our political system is incapable of redistributing correctly even though the net effect is highly positive.
The seminal study on the topic is the "China shock" paper from Autor et Al.:
The issue without outsourcing is that the benefits are widespread (lower prices!) but the drawbacks are concentrated (factory town is now a hellhole). And our political system is incapable of redistributing correctly even though the net effect is highly positive.
The seminal study on the topic is the "China shock" paper from Autor et Al.:
https://www.nber.org/papers/w21906