Offshoring: Will 25 percent of U.S. jobs end up overseas?

For decades, pundits have argued about the values and dangers of offshoring. Recently, economist Alan S. Blinder weighed in with a paper examining the potential ramifications of the process. Dr. Blinder, who served on the Federal Reserve Board and Bill Clinton's Council of Economic Advisors, determined that approximately 30 to 40 million American jobs -- roughly 25 percent -- could be offshored to developing countries.

Many analysts were quick to point out that "could" is miles away from "will," and have noted that Blinder's depressing conclusion doesn't automatically translate into a massive outflux of jobs. While this is certainly true, it ignores the devastating effect that offshoring has already had and minimizes the attraction that the program holds for business owners. Under the circumstances, the fact that 25 percent of jobs can go overseas suggests that -- if current trends continue -- a large percentage will eventually do so.