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I became an adult in the States - studying than working for a total of six years. I absolutely share the frustration with the visa laws, but I don't think the e
by lyudmil 16y ago
I became an adult in the States - studying than working for a total of six years. I absolutely share the frustration with the visa laws, but I don't think the economic argument holds much water.
Yes, startups create jobs, but just like all other small businesses, they lose a lot of jobs as well because of a high failure rate. You certainly want to give people the opportunity to start companies, but it isn't at all clear that you're actually boosting the economy significantly by making it easier to start a new business.
Additionally, making visas available for foreign entrepreneurs opens up the market for more trade, which would certainly mean downwards pressure for salaries, which would decrease demand. To cancel that out, you'd need to make an argument that you'll make that money up through increased market efficiency - certainly tech products will cost less if the people making them have lower salaries. However, I'm not sure that most households or businesses spend that much on tech. There are certainly less efficient economic sectors (health care topping that list). In fact, most price anomalies in the technology sector are due to copyright and patent laws, so if you really wanted to increase efficiency you'd tackle that instead.
Finally, there's the talent-drain on countries like India and China if such laws were passed. Training an engineer is expensive and you don't want large parts of that investment to just vanish into other markets. I don't claim to have this figured out, but my bet is India, China, and the other growing economies rely heavily on their engineers to sustain their growth. If they begin to stagnate the whole world will suffer economically, and the States in particular given their exposure to these economies.
So, yes, personally I would love the visa laws to change. Would I take advantage? Absolutely. Would it drive the American economy? Probably not.