Economic Growth, Unemployment and The iPhone!

Producers outsource as a means of reducing average costs and gaining a competitive advantage. Abnormal profit and time saved can be reinvested on increasing innovation. Consumers gain through better quality products at more affordable prices .  However, what is the opportunity cost, of this action, on the macro economy?  Below is a video explaining the concept of the ‘jobs multiplier’ and it intimates how some major economies might benefit from rebalancing.


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