On the heels of the dot.com bubble, the term "labor arbitrage," appeared as a technical euphemism for what the general US labor force referred to with great anxiety as, "Outsourcing."   Thanks to changes in Clinton era policy and the emergence of the internet, it was easier than ever to employ abroad at lower rates.  In doing so, the hope was that this quid-pro-quo-ish arrangement would lead millions of latent foreign consumers to buy American products.  This would in turn lead to a global economic interdependence and subsequent great peace and prosperity for all. Things didn't play out that way exactly.  China, India, Singapore, and others certainly did grow richer.  American businesses weren't given carte blanche to freely swoop in and recapture that wealth though.  In addition, arbitrage generally drives prices to equilibrium.  From the get-go, the outsourcing labor trade had an expiring lifetime. Moreover, the trade goes both ways.  Ingenuity ...