A hearing that will probably have a lot of good information about globalization and US jobs is happening this Thursday. There usually is a webcast to watch these, so I want to give ya all a heads up about it. I will also write about it after the hearing is over. Details:
Title: American Decline or Renewal?-Globalizing Jobs and Technology
Committee: House Science and Technology Committee, Subcommittee on Investigations and Oversight
When: Thursday, May 22nd, 10 A.M. to 1 P.M.
Where: Rayburn House Office Building, Room 2318
*Please see the Committee announcement (attached) for more information.
"This hearing will attempt to break new ground by pairing the testimony of U.S. company presidents explaining why they have resisted the temptations of offshoring with that of prominent academics bent on challenging basic assumptions they believe have distorted public debate over trade policy and the effects at globalization.
The first panel will feature Ralph Gomory, President Emeritus of the Alfred P. Sloan Foundation and just named as research professor at NYU's Stern School of Business; political economist Bruce Scott of Harvard Business School; and economist Margaret Blair, a professor of law at Vanderbilt. They will reinterpret fundamental perceptions of the current structure of world trade, the duty of corporate officers and directors, and the relationship of the market to the state, as well as offer new ways of thinking about corporate incentives that might encourage companies to keep and create jobs in the U.S.
And while very few corporate officials have been willing to discuss with Congress the attractions of offshoring and the bases of their decisions to stay home or go abroad, the heads of a North Carolina textile company and an Illinois printed circuit board manufacturer will do so at this hearing. They will be joined by the CEO of the Arlington, TX, Chamber of Commerce, who will talk about having to compete to attract investment in a global environment. All three will bring with them from the trenches of economic competitiveness their own suggestions on how incentives can be refashioned to tilt the balance in favor of keeping and creating manufacturing and research facilities in the U.S."
Subcommittee Examines How to Encourage U.S. Corporations to Invest at Home, Not Abroad
The Effects of Globalizing Jobs & Technology on the American Economy
(Washington, DC) – As millions of American manufacturing jobs continue to move offshore, evidence is mounting that ever more sophisticated operations, once seen as the potential source of benefits from free trade and globalization, are headed to foreign soil if the rules underlying corporate incentives don’t change.
The focus of a hearing by the House Committee on Science and Technology’s Investigation and Oversight Subcommittee is how to change government incentives so that they encourage companies to keep high-paying manufacturing jobs, as well as research and development jobs in America.
A panel of expert witnesses will suggest innovative incentives such as reducing income tax rates for corporations that retain or create higher-paying jobs in the U.S., making new rules that point corporations in the direction of public purpose rather than exclusively of short-term profits, and examining how the race for short-term gain contributes to off-shoring of American jobs.
“We need to understand how corporations decide where to create jobs,” said Rep. Brad Miller, Chairman of the Investigations and Oversight Subcommittee. “If we’re going to have a prosperous middle class, then our corporations need to have more than just their executive offices here.”
The Subcommittee will also hear testimony from company executives who know first-hand the temptations to move work offshore and will explain why they have chosen to keep their facilities in the United States. In addition, a U.S. regional development executive will describe how the game of attracting investment has changed amid the strengthening trend to move both production and research abroad.