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Central planning and isolation did fairly well for our banking and financial industries until the their speculative schemes fell in on them. Properly regulated, and reciporical trade like regulated finance are better for everyone, not just the corporation.
Central planning and isolation did fairly well for our banking and financial industries until the their speculative schemes fell in on them. Properly regulated, and reciporical trade like regulated finance are better for everyone, not just the corporation.
US Banking and financial industries were anything but centrally planned and/or isolated. Do you even know what central planning and isolationism are?
Yes, I do. Not all central planning is done by governments. Much of it is done by cooperating corporate entiries by various means. That is what oligopoly means.
2) We cannot. Therefore, if you cannot succeed because of the competition, retrain or lower your expectations. Free markets work this way.
This competition is relatively new and was created on purpose. How did America exist before? Look at the 1950 -1980 period. Was America in those years centralistic and isolationistic? Were Eisenhower or Nixon's administrations socialist or isolationistic? Of course not. The so called globalization and free markets ideology (though existing for many years) was aggressively pursued only by Reagan with later presidents following trur. Even Clinton joined the party. In the past it was presented as a friendly futuristic economic philosophy, that will cause no harm, only benefit the peoples of the world. Not many could object such noble cause. But today, people all over the world (mainly in western Europe and Canada) realize what it really means. Globalization will be only remembered as a passing trend in history books.
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3) How about internal services, specialized high technology, or intellectual goods, for example? The U.S. is a great market in many industries. The private sector, if given the freedom to do so, will find even more markets and products. Don't whine though because someone else can do your job and is willing to take less to do so. The responsibility to maintain your own marketability rests with you, my friend.
This competition is relatively new and was created on purpose. How did America exist before? Look at the 1950 -1980 period. Was America in those years centralistic and isolationistic? Were Eisenhower or Nixon's administrations socialist or isolationistic? Of course not. The so called globalization and free markets ideology (though existing for many years) was aggressively pursued only by Reagan with later presidents following trur. Even Clinton joined the party. In the past it was presented as a friendly futuristic economic philosophy, that will cause no harm, only benefit the peoples of the world. Not many could object such noble cause. But today, people all over the world (mainly in western Europe and Canada) realize what it really means. Globalization will be only remembered as a passing trend in history books.
Globalization led to the greatest expansion of wealth and prosperity the world has ever seen. Even the most broke people in the US have color TVs, cars, and a standard of living that dwarfs their 2nd and 3rd world counterparts. Why derail an economic system that has provided for so much prosperity and opportunity: a global economic system which provides you amazing things like the computer you currently type on?
Note that I say "broke" vs. "poor". True poverty exists in Africa, SE Asia, etc, but in the U.S. we have BROKE people not poor people!
I cannot understand any argument for isolationism. Just look to history and see what isolationism creates. Look at Cuba or North Korea. Cuba once had a decent economy, now the country suffers in isolationism and poverty.
Take a look at the Fortune 500 list. Those companies do business internationally, employing U.S. workers, paying taxes, innovating goods and services, and contributing to the economy.
Sheesh...you guys sound like disgruntled AT&T workers from the 80's who wish the US government would protect their jobs from those evil "wireless phone" contraptions coming from Asia.
Ok, retrain as what? That's your answer? After years of career development. possibly with education expenses from the initial occupation choice still on their books, excessed Americans should head back to school and tool up to become what? What is currently in demand in America? Nurses? All 20 Million unemployed Americans have what it takes to be a good nurse? Teacher? There is such a thing as intelligent, reasoned debate. Your style of debate makes a person want to climb through the PC and... and... !!!
This is the first time that I've read that something is being done to limit this program. IT firms should be severely penalized for using the H-1B program to drive down wages and put qualified American workers out of work. No longer is it acceptable to pretend that qualified Americans don't exist and that such H-1B Visas are necessary. In fact, with the economy in a free fall and people losing their jobs, this H-1B program needs to be eliminated.
It depends on the industry. H-1B and J-1 visas have helped the health care industry fill the shortage of health care workers. And I have not seen a reduction in wages of such workers (American and foreign). The wages are going up, and this has been going on for decades.
Our organization has been trying to recruit internists, orthopedic surgeons, ENTs, general surgeons, ophthalmologists, etc for the last 5 years. These positions remain unfilled. Ditto for nurses and physical therapists. The pay being offered to these people aren't slave wages. For internists, we offered a base pay of $170K with signing bonus of $30K, relocation expenses all paid for, pension plan etc etc......no takers. We hired an anesthesiologist recently for the slage wage of $300K, and he took it only because we also offered to pay back his student loans.
The H-1B and J1 people are not driving health care wages down. They are getting the same pay as Americans. Once they get their green cards and have legal authority to work in the US, they get snapped up by prospective employers pretty quickly.
I cannot understand any argument for isolationism. Just look to history and see what isolationism creates. Look at Cuba or North Korea. Cuba once had a decent economy, now the country suffers in isolationism and poverty.
Cuba used to be the back alley dumpster of US in the 1930-40. They became communists (which nobody recommends for the US) and that's the reason for their economic failure. Also remember that they didn't isolate themselves on purpose, but were forced into it.
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Take a look at the Fortune 500 list. Those companies do business internationally, employing U.S. workers, paying taxes, innovating goods and services, and contributing to the economy.
Is it a coincidence that you (and all advocates of great future technologies and businesses that are waiting for us behind the corner) remain mute and dodge questions about details of these wonders?
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Originally Posted by Leisesturm
Ok, retrain as what? That's your answer? After years of career development. possibly with education expenses from the initial occupation choice still on their books, excessed Americans should head back to school and tool up to become what? What is currently in demand in America? Nurses? All 20 Million unemployed Americans have what it takes to be a good nurse? Teacher? There is such a thing as intelligent, reasoned debate. Your style of debate makes a person want to climb through the PC and... and... !!!
H
Lol!!! What a crap! I remember when in the 80s their solution for everything was to to retrain in computers and the high tech industry. That was the prescription for all problems. I remember economic and financial commentators on TV recommending everyone, from miners to textile workers to become computer programmers.
I spent 25 years in high tech and remember arguing that not everyone can be a computer expert, but they insisted that it is possible. (BTW, all those advisers never spent a day in high tech. As today, they were mostly financial types who have no clue what high tech is). And what economy will the US have when a large part of its population will work in health care? Is it sustainable? These are simply jokes.
We need a diverse economy, based on research, development, manufacturing, as tourism, and other services. Most importantly we must increase our exports. All international agreements must be mutual. For every $ we import from China or India they will import an equal amount of $ from US. Only then can globalization work.
It depends on the industry. H-1B and J-1 visas have helped the health care industry fill the shortage of health care workers. And I have not seen a reduction in wages of such workers (American and foreign). The wages are going up, and this has been going on for decades.
Our organization has been trying to recruit internists, orthopedic surgeons, ENTs, general surgeons, ophthalmologists, etc for the last 5 years. These positions remain unfilled. Ditto for nurses and physical therapists. The pay being offered to these people aren't slave wages. For internists, we offered a base pay of $170K with signing bonus of $30K, relocation expenses all paid for, pension plan etc etc......no takers. We hired an anesthesiologist recently for the slage wage of $300K, and he took it only because we also offered to pay back his student loans.
The H-1B and J1 people are not driving health care wages down. They are getting the same pay as Americans. Once they get their green cards and have legal authority to work in the US, they get snapped up by prospective employers pretty quickly.
From my point of view it is not nearly so important whether or not globalization affects wages as, as you say, for high tech, IT and allied health, even with wage depression one can still eke out a living. However, there is an undeniable effect on opportunity when a particular nationality becomes disproportionately associated with a particular occupational sector. Employment tends to trend along the demographics of the existing labor pool. Qualified Americans will be passed over for IT positions going forward because now that the Indians make up the backbone of the workforce it is great for cohesiveness to continue the trend. I agree, salaries are not often lower for Indians in IT than for Americans but 2009 salaries for both groups are tens of thousands lower than would have been the norm for a similarly qualified American in the 80's before the madness took hold. Inflation has seen to it that COL has risen by several percent in the last two decades and current salaries reflect that by being several percent lower. Yah, that's going to make Americans very happy.
India has well over a billion people. Only a tiny fraction can afford the training to become employable in the U.S. Still, a small fraction of a billion is a lot of people and when they can migrate freely into a foreign economy and pay off an Indian level college loan with American level compensation... ... The lack of American anesthesiologists, interns, etc., etc., why do you think that is? Could it be because medical degrees cost the equivalent of a 3 bedroom house in an upscale neighborhood? Lots of 18 year olds can swing that when their parents can't. Not! The phenomenon of young people indebted to the tune of many tens of thousands for basic higher education degrees is unknown in many parts of the world. Their citizens are able to educate themselves and come into the U.S. and run roughshod over our own workforce. If you think you as an American can go to France or Denmark or India or Mexico for that matter and do likewise you would be mistaken. The answer to the problem was to make education more affordable for American young people, not to use people educated at lower cost abroad to do work in American business! Is that hard to understand?
H
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