Alan Greenspan says our skilled workers are "paid too much" – and recommends we open a "significant window of skilled workers" to come to the US and eliminate the remaining concentration of higher pay for skilled jobs in the American workforce – equalizing wages with the unskilled workers. Greenspan would apparently like to see doctors and technicians make what burger flippers are making.
Alan Greenspan is worried about income inequalities in the U.S. But before you jump up with joy that Greenspan is finally speaking out against the skyrocketing salaries of CEOs, hold your celebrations for another time!
Greenspan's big worry is that "skilled workers" get paid way too much compared to the rest of our population. Judging by Greenspan's comments, when he talks about "skilled workers" he isn't talking about CEOs and other assorted corporate fat-cats that earn multi-million dollar salaries – he is probably talking about you.
Give Greenspan credit for one thing – he not only identifies our national problems he offers 'solutions'! Of course, if you happen to be a skilled worker, Greenspan's solution won't sound too appealing. The hero of the corporatocrats and plutocrats wants to distribute your income into the hands of needy billionaires by using H-1B visa 'skilled workers' to knock you off your haughty middle-class pedestal. Clever, huh?
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Now here's something only an economist could come up with. Alan Greenspan said at a conference this week that high levels of economic inequality are political problem, and he's right: "You cannot have a system that we have unless the people who participate in it believe it is just." Too much concentration of income at the top undermines political support for the market and thus strengthens the hand of the socialists – er, the Democrats.
So, what's his solution? Flood the skilled labor market with immigrants! You see, since immigration lowers wages, massive importation of skilled workers would drive down their wages and, presto, no more income gap! In his words: "Our skilled wages are higher than anywhere in the world. If we open up a significant window for skilled workers, that would suppress the skilled-wage level and end the concentration of income."
Anyone want to run for office on that platform? Anyone? Anyone? Instead, how about reducing inequality by cutting immigration overall, so we stop flooding the low-skilled labor market, and let blue-collar wages increase? Think that would be a better way to shore up political support for capitalism among the poor?
https://archive.is/UupdD
http://www.rense.com/general75/skilled.htm