Outsourcing timeline
1776 - Adam Smith, in the ‘The Wealth of Nations', formulates a theory of competitive advantage, extracting the notion of outsourcing as a way to cut costs by hiring cheaper labour in less developed countries.
01 March 2007
1830s - England's textile industry is so efficient that eventually Indian manufacturers can't compete, and work is outsourced to England.
1960s - It becomes common to outsource tasks that involve massive amounts of information, such as data processing, to external vendors, due to the large costs and physical storage requirements associated with computers.
1962 - JCR Licklider of MIT publishes a paper discussing his “Galactic Network” concept. He envisions a globally interconnected set of computers through which everyone can quickly access data and programmes from any site.
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