Until recently, outsourcing by global financial firms to India conjured up an image of commoditised low end services outsourcing: call centres, peripheral systems programming, and testing and maintenance. However, in recent years, there is a new rise of more sophisticated work. This reflects supply and demand factors. Global financial firms are keen to cut . . . → Read More: The rise of high-end finance work in India
I have long been aware of Amazon’s `Mechanical Turk’, a mechanism through which tasks are farmed out to a large bank of humans. Each human worker has full flexibility on how many hours are worked and when. From the customer’s point of view, Amazon supplies an API and access to a very large pool . . . → Read More: Uptake of systems like Amazon’s `Mechanical Turk’ in India
The top selling Indian newspapers according to Amazon’s kindle subscriptions.
India’s courts may be in a slow process of reshaping India into a liberal democracy. Here is a Supreme Court ruling which blocks the Maharasthra government from interfering with the rights of a citizen to read a certain book. Sadly, it was done . . . → Read More: Interesting Readings for July 16, 2010
The advantages of going virtual for companies are obvious. One of the greatest of these, yet one that’s often overlooked, is the ability to select employees without geographical limitations or relocation costs. This also carries cost-of-living possibilities even within national borders, as, for example, the price of an editor outside of . . . → Read More: Trading Off: Virtual Companies and Relative Economics
One of our readers left an interesting comment regarding the medical profession and its desire to seek profits for its members. I quote from his comment:
The nature of the AMA, a protected and virtually untouchable union, certainly believes in maximizing its members’ profits. It clearly restricts the supply (as all unions do) in . . . → Read More: Doctors’ Shortage: Why Doctors Are the Main Problem
Tries to understand the long term economic consequences of outsourcing . . . → Read More: Outsourcing: How Much Is Too Much?
By the time November rolls around, Americans will have heard more economic numbers crunched in more creative ways than anyone ever would have imagined possible. That’s the mathematical formula for recreating any candidate in the image of a populist hero: numbers and more numbers. Bury ‘em in numbers, and if they start asking questions, . . . → Read More: Election Issues III: America’s Two Economies
Even in our modern world, sweatshops remain a horrifying reality, with hundreds of thousands of the world’s poor and defenseless people exploited by wealthy factory owners and greedy supervisors. Their jobs, perhaps better termed slavery, involve back-breaking hours in pitiful conditions, sometimes using toxic chemicals without adequate ventilation or protective gloves or goggles, for . . . → Read More: Outsourcing: The Good Side of Asian Sweatshops
Often laws are passed to prevent or contain the undesirable effects of an economic activity. But sometimes the laws are more motivated by political considerations than economic benefits. The perfect example of this is outsourcing laws. The U.S. introduced outsourcing laws in 2005 in most of its 50 states in order to check the . . . → Read More: Laws Against Outsourcing – Are They Necessary?
We’ve all heard it, and many of us have grown up with it:
“The customer is always right!”
Today, with telecommunications corporations, banking and financial corporations, insurance companies, newspaper companies, and companies we don’t even understand gobbling each other up at a rate that makes Pac-Man look like a child’s game (oh, wait – . . . → Read More: Corporate Mergers and the End of the Customer