Global Competitiveness
The United States has long been the destination for the world’s most talented immigrants. Despite the last 50 years of technological advancement, American immigration policy has remained virtually unchanged, putting in danger America's global competitiveness. Yesterday's immigration policy no longer meets today’s economic needs. Only about 14 percent of all U.S. green cards are given for economic reasons, compared to more than 60 percent in Canada and Australia. With no dedicated visa for entrepreneurs and numerous barriers to residency in place for international students to stay after graduation, America's outdated immigration policy could allow other countries to out-compete us by attracting and keeping the best and brightest there and not here.
The Economic Benefits of the DREAM Act
A joint report, “The Economic Benefits of the DREAM Act,” by New American Economy and the Center for American Progress, shows how passing the Development, Relief, and Education for Alien Minors Act, or DREAM Act, will boost the U.S. economy and create jobs for American workers. Among the report’s… Read More
Crovitz: Washington’s New Twist on Human Sacrifice
Wall Street Journal September 30, 2012 In the 1990s, just before the handover of Hong Kong to China, there was a going-away lunch for the Canadian consul general. When I entered the venue, I thought it must be the wrong place. The hundreds of ethnic Chinese gathered for the… Read More
Bloomberg on Financial Collapse, Job Growth
CBS This Morning September 13, 2012 http://www.cbsnews.com/video/watch/?id=7421442n&tag=mncol;lst;6/ BLOOMBERG: I think saying things like let’s invest in infrastructure. We need infrastructure desperately. But, infrastructure is not a jobs creation program in the short term. It gives us the tools to have an economy down the road, but most people… Read More
Mayor Bloomberg Gives Washington Economic Tips
The Epoch Times September 13, 2012 NEW YORK—Mayor Michael Bloomberg has long been lauding the city’s economic recovery to New Yorkers. On Wednesday, he showcased his advice to Washington. Bloomberg’s speech at a forum hosted by The Economic Club of Washington, D.C. came at an appropriate time. This week… Read More
New Report on Immigration and US Economic Competitiveness
Examiner.com August 29, 2012 “Immigration reform cannot wait any longer.” That was the consensus of the group of executives from various ethnicities and professions — ranging from lawyers and journalists to corporate VPs and CEOs – who attended today the preliminary presentation of a new immigration report in the… Read More
The Track-Star Economy
The New Yorker August 27, 2012 If one of the big stories of this year’s Olympics was Team U.S.A.’s return to the top of the medal charts, London also showcased another impressive American feat: we trained many of the best athletes who competed against us. Nearly four hundred Olympians… Read More
Immigration: Who The U.S. Lets In, And Why
NPR August 27, 2012 America’s economy would be better off if the U.S. admitted more highly skilled workers, James Surowiecki recently argued in the New Yorker. That got us thinking: How does the U.S. compare to the rest of the developed world when it comes to immigration policy? The… Read More
Liberalising immigration would double the world’s income overnight
New Statesman August 21, 2012 The Washington Post’s Dylan Matthews reports on a new paper from the (US) National Bureau of Economic Research (£), which examines what would happen if all immigration restrictions were dropped. Matthews summarises: [University of Wisconsin’s John Keenan] builds a model that assumes that in… Read More
Shift Sought on Immigration
Des Moines Register August 20, 2012 A coalition of Midwestern leaders hopes to “give Washington a kick” and jump-start progress on stalled immigration reform, something it calls the key to economic growth. The task force, co-chaired by former Iowa Gov. Chet Culver and organized by the Chicago Council on… Read More
Can Baltimore Woo Immigrants?
Can Baltimore Woo Immigrants August 20, 2012 …too many cities, too many states are basically putting up a do-not-enter sign.” Regarding the city’s particular outreach to Latinos, and their impact on economic growth, she offered: “We’ve actively recruited Latino immigrants to Baltimore, and when they come here, they’re thriving. Read More
Impending Labor Challenges
The United States is facing demographic challenges that endanger its preeminent economic position in the world. An aging workforce threatens the vitality of the labor force. At the same time, the supply of U.S.-trained engineers is lagging behind nearly all other industrialized economies. At a time when tech-heavy and innovation driven industries are driving economic growth, the United States faces the prospect of being left behind.
Table 1: Share of Population Age 65+, 1996, 2006, 2016 and projected 2030
Table 2: Share of Undergrads Studying Engineering
Prioritizing Economic Needs
Many countries have identified the link between immigration and economic growth. For many, such moves are a matter of necessity–the domestic labor force is not sufficient for an expanding economy, and aging populations and declining fertility rates are creating labor shortages. Despite facing some of the same challenges, U.S. immigration policy has not changed to reflect our economy’s evolving needs.
Table 3: Percentage of All Permanent Residency Visas Given for Economic Reasons*
Need for a Start-Up Visa
Countries around the world, from France, to Chile, to Singapore have created visas aimed at attracting promising entrepreneurs and job creators. Despite concerns about meager job creation and business growth, however, the United States has not taken a similar step, endangering our position in the global race for talent. This situation was made worse in 2017 when the administration took the first steps to kill the International Entrepreneur Rule, a measure that would have allowed entrepreneurs with outside funding to remain in the country for 2.5 years to establish their businesses.
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