Article at a glance:

Exploding the myths of offshoring

The debate over the offshoring of US business-processing jobs misses the mark. Any short-term disruption from job losses must be weighed against not only the much broader benefits to consumers and businesses but also the disastrous consequences of resisting change. If US companies can't move work abroad, they will become less competitive—weakening the economy and endangering many more jobs—and miss the chance to raise their productivity and to concentrate their resources on the creation of higher-value jobs.

The take-away

Research by the McKinsey Global Institute quantifies the benefits of offshoring for the US economy and debunks several myths. Rather than debating whether offshoring is good or bad, businesses and policy makers should be thinking about how to help its victims.