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Flattener #1: Off-Shoring is one of the main components that boost globalization in an
effective way. Globalization has gained a rapid movement with engaging of China to
World Trade Organization so that off-shoring increased competitiveness in globalization.
In addition, a study has done by Duke University in 2006, shows that the companies
offshore due to the fact that they need to find employees who they cannot find at home
country. For example, US companies needed more than 50.000 graduates with master
and PhD degrees. That’s why; companies turn their faces to somewhere they can find
skilled workers who are easy to find in India, China or any other countries which are
suitable. Moreover, low cost labor force is another reason to offshore so; companies can
find what they need to sustain product development, innovation or engineering. Also off-
shoring enables cost reduction by design which determines %80 of total cost.
Missing Flattener: Adam Smith, I think that missing flattener should be Adam Smith.
As everybody knows he is cited as “father of modern economy”. Because, he is the one
who created today’s economy. We have been just building on it by using technologic
advances, sciences etc. In fact, we have been just trying to manage what he created in
his mind. He supported free trade among nations. Free trade has increased productivity
by allowing nations by specializing in what they produce well. Yet, his ideas were
depending on theories of absolute and comparative advantage. The governments which
follow his steps are just making necessary legislations that allow companies trade more
freely. According to Smith, the government should only provide law and order to ensure
security and subsidize the education of people.
References:
Off-shoring: http://www.halfcostproducts.com/offshore_manufacturing.htm
https://offshoring.fuqua.duke.edu/mediarelease_oct06.jsp
http://www.netmarketshare.com/browser-market-share.aspx?qprid=0
http://www.netmarketshare.com/browser-market-share.aspx?
qprid=0&qpcal=1&qpcal=1&qpcal=1&qpcal=1&qpcal=1&qpcal=1&qptimeframe=Q&qps
p=46
http://www.vanderbilt.edu/AnS/Anthro/Anth234/Adam%20Smith1.htm
Word Count: 543