Even so, information technology remains a "key contributor to economic growth and productivity, and its importance to the economy is growing" (CEA, 2004, p. 135). It was the core of the enormous growth in Internet use e-commerce, which accounted for more than $1.1 trillion worth of transactions in 2002--with $85 billion in business-to-business transactions and some $44 billion in retail sales (pp. 137-138).
The spread of information technology throughout the economy has been a major factor in the acceleration of productivity through capital deepening . . .
Meanwhile, however, the fact of IT internationalization must be considered as a feature of the tendency of U.S. companies to outsource manufacturing and services abroad as a cost-cutting, profit-protecting measure. The cost benefits of outsourcing design and/or manufacture must be weighed against security risks and the proximity issue. Another issue is the impact of globalizing production on the American labor force. For some years, owing to the relative dearth of the American high-tech skills base, U.S. companies have recruited high-tech experts from Asia or from the pool of Asian students who receive American university degrees in computer science and related fields. A number of Asians who have worked in American high tech reportedly are returning to their native countries as IT professionals owing to an array of government-sponsored incentives to do so. No or few similar incentives are part of American public policy. There is no special incentive to study computer science, for example, and that helps explain why the relative number of American-born college students majoring in computer science and related engineering fields has declined, not increased, in the past decade.
Turing, A.M. (1995). Computing machinery and intelligence. In E.A. Feigenbaum & J. Feldman, Computers & thought (pp. 11-35). Cambridge, Mass.: MIT Press.
Council of Economic Advisers. (2005). Economic report of the president, transmit