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I agree with that. Anywhere the government coerces the market you're going to get distortions. Is playing favorites the worst type of market distortion? That
by tc 17y ago
I agree with that. Anywhere the government coerces the market you're going to get distortions. Is playing favorites the worst type of market distortion? That's hard to judge, but it is probably the most egregious.
I don't think that immigration or foreign competition is the primary driver behind the decline in American engineering (if there is such a thing) though. The other mistakes we've made completely dwarf any effect this would have had:
Our fiscal policy over the past few decades has made debt our primary export. Wall Street firms can make more money just dealing in US Treasury debt than the profits of all the successful companies in Silicon Valley combined.
Steadily increasing regulation (SOX, whatever nonsense comes out of the current situation, etc.), litigiousness (often spurred by statue law: sexual harassment claims, hostile work environment, discrimination, etc.), and complicated tax code has made lawyers and CPAs more in demand, while licensing keeps their numbers down.
The increasing nationalization of health care has misdirected a shocking amount of resources into this industry.
All in all, the major reasons why a smart, rational young person, who is primarily motivated to make a buck, should go into law, medicine, banking, (or politics!) have almost nothing to do with immigration.