For all the political sound and fury over the off-shoring of American jobs to India, China and beyond, the coming great migration of American work to foreigners has barely begun, says Princeton economist Alan Blinder.
Soon, and for years to come, Americans will be astounded by the exodus of jobs to lower wage nations.
Essentially, says Blinder, everything that can move will move. He calls it the Third Industrial Revolution. He says we're completely unprepared. He says Americans who want work in this revolution will need to be in "personal services".
The off-shoring revolution, and the dog-walking, hair- cutting, taxi driving economy to come — can it work?
Jon Hilsenrath, former Economics Reporter and now Editor for Wall Street Journal
Alan S. Blinder, Professor of Economics at Princeton University and Member of President Clinton's original council of Econmic Advisers
Clyde Prestowitz, President of the Economic Strategy Institute and author of "Three Billion New Capitalists: The Great Shift of Wealth and Power to the East"
This program aired on March 22, 2006.