Crazy that an increase of supply depresses the price in a market. I have not been this outraged since I discovered water was wet. Competition makes our world prosperous. We should welcome it
Not in this case and this is not very hard to understand. The H1bs who come to US are exploited by companies and are paid less than market salary. The reason most companies give is because they have to bring the person from overseas they have made significant investment in time & money and therefore pay them less.
There's the baby, which is highly talented people educated at elite universities overseas. Then there is the dirty bathwater, which is seat warmers hired at the lowest possible wages by "body shops" that bill them out to government and corporate customers. The first does create prosperity. The second, not so much.
There are several possible fixes: Auction visas with a high minimum. Disallow contracting-out workers on visas. Etc. It's a system that would be easy to fix at zero cost, and maybe even could be made into a source of revenue.
Or would could enforce the law. The H1-B Visa program was intended to fill jobs for which there were no Americans with those skills desired.
There should be some sort of approval process from an institution or firm that does not have a conflict of interest with the firms applying for H1-B Visas.
Competition only increases efficiency if the price of a good is currently inflated.
Labor is likely under-priced as a good relative to other expenditures, like property and the means to production, so an increase in competition for jobs does not necessarily equate to a more highly functioning society.
You're ignoring the creation of new goods via reinvestment of profits.
In any case, for a given good if there is any profit at all being made (which...well, there should be otherwise the producers wouldn't exist) then the price of the good is (I will borrow your language) "inflated" and has room for competition to be brought down.
There's a lot of stuff wrong with your claims, I don't know where to begin...
rajeshp1986|9 years ago
Zigurd|9 years ago
There are several possible fixes: Auction visas with a high minimum. Disallow contracting-out workers on visas. Etc. It's a system that would be easy to fix at zero cost, and maybe even could be made into a source of revenue.
davidf18|9 years ago
There should be some sort of approval process from an institution or firm that does not have a conflict of interest with the firms applying for H1-B Visas.
richardlong|9 years ago
Competition only increases efficiency if the price of a good is currently inflated.
Labor is likely under-priced as a good relative to other expenditures, like property and the means to production, so an increase in competition for jobs does not necessarily equate to a more highly functioning society.
acchow|9 years ago
In any case, for a given good if there is any profit at all being made (which...well, there should be otherwise the producers wouldn't exist) then the price of the good is (I will borrow your language) "inflated" and has room for competition to be brought down.
There's a lot of stuff wrong with your claims, I don't know where to begin...