Cambridge University Press has recently published New School Professor and New School for Social Research Dean Will Milberg’s book, “Outsourcing Economics: Global Value Chains in Capitalist Development.”
Coauthored with Deborah Winkler, the book, which can be found here, proposes “an institutional theory of trade and development” derived from their findings that “offshoring reduces employment and raises income inequality in countries that lack institutions supporting workers,” as well as allowing “firms to reduce domestic investment and focus on finance and short-run stock movements,” thus noting that “development has become synonymous with ‘upgrading’ in global value chains” which “is not sufficient for improved wages or labor standards.”