Impacts of global trade Friday, February 13, 2004 Kenneth Louie, an associate professor of economics at Penn State, has given us a good explanation of the benefits of international trade. In sum, in a globally connected world, we gain more from exports than we lose from imports. The problem is that the gains from exports are "hidden" while the losses from imports -- downsizings and plant sutdowns -- are often quite visible. (For example, this week Travelocity announced that it is is closing down a customer service center in Virginia and shipping these jobs to India. Learn more.) Get a quick economics lesson on international trade and economic deevelopment. Go. Meanwhile, in Minnesota, economists are trying to estimate the impact of the new wave of outsourcing on the state economy. It's a tough question, one that has no easy answers. It is hard to separate job losses attributable to outsourcing from losses that are occurring because of the retrenchment of technology sectors and the general economic slowdown. Learn more. At the same time, we are not the only ones trying to gauge our exposure. This week, Edinburgh City Council in Scotland announced the formation of a new study team to evaluate the risks of outsourcing to India on the city's financial services sector. Learn more. posted by Ed Morrison |		This work is licensed under a Creative Commons License. links Some Background on EDPro Weblog The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it. One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information. So, spread the word...Share the knowledge. Tell a friend about EDPro Weblog. If you are using a news reader, here is the link to syndicate this site: Here's the link if you are a bloglines subscriber: Speaking and workshops on Open Source Economic Development As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking. Background on Ed Morrison Download some background information on me here.

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