Tuesday, July 10, 2012

Obama Economic Adviser "Offshoring Creates Wealth"

"Diana Farrell, Who Was Obama’s Deputy Economic Policy Adviser For Two Years, Promoted The Benefits Of Offshoring While She Worked At The McKinsey Global Research Institute.”"Diana Farrell, who was Obama’s deputy economic policy adviser for two years, promoted the benefits of offshoring while she worked at the McKinsey Global Research Institute. Farrell was the primary author of a 2003 report called ‘Offshoring: Is it a Win-Win Game?,’ which concluded that the benefits to the United States of offshoring exceed the costs. Farrell did not respond to multiple requests for comment.” (Tom Hamburger, Carol D. Leonnig and Zachary A. Goldfarb,"Obama’s Record On Outsourcing Draws Criticism From The Left,” The Washington Post, 7/9/12)

Diana Farrell Is An Advocate Of"Offshoring And Innovation To Produce Economic Growth.”"An advocate of offshoring and innovation to produce economic growth, Farrell joined President Barack Obama's administration early on, as he fought to restore confidence in the credit markets and save financial institutions on the brink of destruction. Despite rumors she might replace her boss, Farrell announced in November 2010 that she would leave the National Economic Council at about the same time as Larry Summers.” (“Who Runs Gov: Diana Farrell,” The Washington Post, Accessed 5/2/12)

Farrell Published Research That Said Offshoring Jobs Brings"Substantial Benefits” To The United States."But another one of Obama's choices, Diana Farrell, may be just as important in shaping White House policy. The former director of the McKinsey Global Institute, McKinsey & Co.'s economics research arm, Farrell has been tapped to serve on the National Economic Council and as deputy economic adviser to the president. McKinsey, a management consulting firm, has published research that argues that offshore outsourcing to low-wage countries brings ‘substantial benefits’ to the U.S. Its studies and reports have been cited by the tech industry in support of the H-1B visa program.” (Patrick Thibodeau,"H1-B, Offshoring Supporters Get Key Obama Administrations Posts,” ComputerWorld, 2/3/09)



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