If we view anything purely through capitalistic lenses I believe we endanger ethical considerations.  I don't think capitalism and ethics are mutually exclusive. However, the former may weaken tendencies of charity and compassion from which the latter would benefit, which might make them somewhat incompatible at times.

Capitalism is probably an improvement over feudalism.  But some effort from whatever governmental structure underlies is required to keep from sliding back.  Capitalism shares with feudalism the ideas of inheritance, rent and indentured servitude.  Combined with republican or democratic government it appears fairly decent to the majority, insofar as they empower themselves.  This is complicated by corporate control of mass media.

Capitalism is probably not some magical end stage of economic development.  Statements like François-René Rideau's “Violating the rules of Capitalism is denying the ethical nature of oneself and other persons” (2005) ring a little hollow.  That some relation is fruitful is quite possible, but that this is direct and inarguable is a bare assertion.  Personally I try to find the meaningful in arguments and can do so in much Randian and libertarian thought.  But I also note that honestly, some people do not evince much care for others.  It is to our shared peril if our political and economic systems allow individuals holding these values to accumulate the most power in said systems.

We can ignore the ethical considerations of outsourcing.  We can ignore the ethical considerations of anything.  The price we pay will vary from pangs of conscience amongst those of us who have such, to the possible collapse of the economic and environmental systems that support our current population (Stewart, 2009).

Rideau, F-R. (2005) Capitalism is the Institution of Ethics [Online].  Available from:http://fare.tunes.org/liberty/sofia2005.html (Accessed: 19 May, 2010)

Stewart, D. (2009) Is Ethical Capitalism Possible?  Available from: http://www.policyinnovations.org/ideas/commentary/data/000105 (Accessed: 18 May, 2010)