He's right that there's no STEM shortages.
He's right about price signals.
He's right to highlight Eisenbrey on the indentured servitude nature of current guest worker programs.
But he's wrong to act like a globalized labor market is somehow distorting the market process.
The problem with H1-Bs, "staple acts", etc. is not that they pit native workers against non-native workers. The problem with them is that they are the government picking and choosing which workers get a leg up in the immigration process. They're wrong becasue they're unfair and there's no reason we should privilege STEM trained immigrants over other sorts of immigrants that ought to be here, and we certainly shouldn't give their employers the sort of exploitative power over them like the H1-B does.
Schumpeter Is Insensitive
2 hours ago