Subject:
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Re: Globalization, H1-B Visas, Unemployment, ITAA Job Growth Estimates, Etc.
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Wed, 21 Aug 2002 16:27:47 GMT
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Viewed:
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319 times
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richard marchetti wrote:
>
> Hmmm, I WAS trying to get the opinions of geeks mainly, but perhaps this
> post belongs in "debate" instead. I am trying illicate opinions about the
> economic/political issues raised by this stuff.
I could argue for and against going into .debate. My gut reaction would
have been to cross-post initially with follow-ups set to .debate.
As to the initial question:
> > Opinions? I ask here in the hopes of getting something beyond the opinions
> > of the obviously angry or union-obsessed.
Globalization of the tech industry has been going on for longer than
I've been alive. I still see most of the real cutting edge development
happening here in the states (1). I think there's a reason for it. I
think our constitution and the freedoms it guarantees leads to more
creativity. I think that a more free market also leads to the creator of
an idea getting compensated for their idea.
Globalization is also a positive effect in that it expands the market.
Larger market, more products.
What is happening, and has happened for longer than the tech industry
has existed is that less skilled jobs move to cheaper areas. My parents
always point out the textile industry moving out of Massachusetts
(though I noted that Malden Mills, one of the leaders of high tech
textiles is still in Massachusetts...and chose to stay there, and
maintain their workforce despite a devastating fire).
Yes, the .com bubble burst (and the rest of the economic slowdown) is a
temporary setback. It will drive down wages, which will make foreign
labor (either off site, or via H1B Visa) less attractive. This is simply
the way the free market should work. I'm not quite sure why someone
working for a company which didn't have a real business plan should have
been making more than me working at a pretty stable company (though
we've certainly had our own bloodlettings - but of the folks I know who
got layoff notices in North Carolina, almost all of them quickly found
jobs).
(1) Of course there is a lot going on in Western Europe, Canada, and
Japan also. All parts of the world closer to the US than the rest of the
world in freedom. I expect India will be the next economic powerhouse,
and that will be good for the world economy (though they might be the
place which can wrest leadership of the tech industry from us).
Frank
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