Press Releases :: May 22, 2008

Subcommittee Assesses the Effects of Globalization on America’s Economy

(Washington, DC) – Today, the House Science and Technology Committee’s Subcommittee on Investigations and Oversight held a hearing to assess the effects of globalization of jobs and technology on America’s economy. Specifically, this hearing examined what influences U.S. firms’ decisions to locate their production and research facilities at home or abroad.

"The hardships of working Americans are proving enduring and profound," said Subcommittee Chairman Brad Miller (D-NC). "No longer can we in good conscience escape the question: What do we do about the offshoring of American jobs? If we are to find effective answers, we must be open to hearing new ideas. We must be prepared to discover that we know less than we thought about the consequences of globalization, or even that some of our basic views on the subject may rest on mistaken assumptions."

Subcommittee Members expressed the importance of this federal funding to cultivate American innovation and stimulate the economy here. Witnesses testified about the role and responsibilities of corporations, the relationship between the state and the market, and the ability of technological innovation to ensure our country’s economic prosperity in the absence of changes in the trading system. Members questioned witnesses from domestic firms regarding the cost of producing at home under the current trading system and requested their suggestions as to what the federal government could do to improve this system.

Throughout the 110th Congress, the Committee has been very active in reviewing the effects of globalization of jobs and innovative technology on the United States. Previously, the Committee held a series of four hearings to evaluate the globalization of R&D and Innovation – an overall review, affects on universities, companies’ decision-making process, and the implications for the science and engineering workforce.

Witnesses for the hearing included:

Panel I:

• Dr. Ralph E. Gomory, Research Professor, NYU Stern School of Business, Henry Kaufman Management Center
• Dr. Margaret Blair, Professor of Law, Vanderbilt University Law School
• Dr. Bruce R. Scott, Paul Whiton Cherington, Professor of Business Administration

Panel II:

• Mr. James R. Copland III, Chairman, Copland Fabrics, Burlington, NC
• Mr. Brian O’Shaughnessy, Chairman, Revere Copper Products, Inc., Rome NY
• Mr. Wes Jurey, President & CEO, Arlington Chamber of Commerce, Arlington, TX

For more information on this hearing or to access witness testimony, visit the Committee’s website.

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