3. Global outsourcing has cost the U.S. economy far more than one million jobs since 2001, or somewhere between 15 and 35 percent of the total decline in employment since the onset of the 2001 recession.

a. How does outsourcing affect the bargaining power of U.S. workers and the bargaining power of U.S.

employers?

b. What will it likely do to the overall level of U.S.

workers’ wages?

c. What will it likely do to lawyers’ wages?

d. If you stated that it affected lawyers’ wages differently, do you believe that the U.S. policy response to outsourcing would be different?

(Post-Keynesian)