Friday, June 27, 2008

Greg Mankiw's Blog: Wanted: More Beautiful Workers

Greg Mankiw's Blog: Wanted: More Beautiful Workers

...“Weiner wants Congress to amend current visa rules to allow 1,000 foreign models into the United States each year under their own immigrant classification.”
Economics is ALL about allocation of scarce resources to the production of the goods and services in order to satisfy unlimited want. If USA doesn't have the models to satisfy the industry demand then why not.--“demand and supply”.

Relate articles:
Spillover effect
The models young healthy and have reasonable educations, reasonable earring power so they spend; rent food etc… pay taxes, increase trade between USA and models countries, no cost of tax payer from they stay and if they marry USA citizen etc.

Relate articl H-1B visa
…Wage depression is a complaint critics have about the H-1B program: some studies have found that H-1B workers are paid significantly less than U.S. workers. It is claimed that the H-1B program is primarily used as a source of cheap labor. However the sources of these studies are normally conducted and reported by special interest groups that oppose the H-1B program. No definitive governmental study, either by the GAO or the Congressional Research Agency has proven these statistics to be true. A paper by Harvard Professor George J. Borjas for the National Bureau of Economic Research found that "a 10 percent immigration-induced increase in the supply of doctorates lowers the wage of competing workers by about 3 to 4 percent." It also states that this phenomenon makes Americans to pay less for their online and software services and most of the times it is free…
I think Human “Endeavor” one of most exulting thing, regardless where you from, have a college degree or not, we find our place one or another way. We should all have given the chance to try. Anyone who wants to venture other counties they are courageous frontiers. The sprit of frontiers we went to the moon.

By the way, a forbidden fruit is much tasty and challenge, single is not a premium!

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