I cannot say that I disagree with much of what Dr. [Peter] Mooney says [“It's still the economy, stupid,” Perspective, Nov. 15, Page 6], but it is easy, so easy, to Monday morning quarterback an election. Sure we know now why we all voted as we did. Where was Dr. Mooney before the election?
Dr. Mooney needs also to read some of the business publications about outsourcing, first to China, now India. The Nov. 22 issue of Business Week talked of the scramble of the big companies to buy up and merge the various outsourcing players in India, especially all those that have located in the Bangalore region. These players are not the Indian-owned companies that we hear are the culprits, but the global giants such as General Electric, Citibank, IBM Global Services, American Express, Standard Chartered Bank, J. P. Morgan, and the list goes on.
Quoting Business Week: “Almost as soon as George W. Bush was re-elected and the specter of a Democratic administration that might pull the plug on outsourcing receded, the deals began to flow.” How does this square with Dr. Mooney's vision of a rose-colored economy?
William L. Smith