There’s No Such Thing as Too Many Smart Workers

An excellent point from Joe at Techdirt:

We’ve argued, along with many others, that it’s a clear benefit to the overall economy and the tech industry in particular to have skilled and educated immigrant workers come over from abroad. Still, it’s always nice to have some data to back this assertion up, just to ward off accusations of being a wild idealist. A new study published by Duke University finds that a full quarter of all tech startups between the years 1995-2005 had a immigrant either as a founder or key executive. These companies, it’s estimated, employed a total of 450,000 workers, and had revenues of $52 billion. The mistake made by those who oppose immigration for economic reasons is that they think of the overall economic picture as being fixed. In other words, they look, say, at the number of jobs in existence today, and simply assume that if more people compete for them, then domestic workers will increasingly go unemployed, while overall wages will be depressed. But as studies like this show, there’s nothing fixed about the economy. There’s always room for new startups, while existing companies will hire more people, assuming that they’re talented and can add value. As the researchers note, the process of immigration is inherently ambitious, and going through it is a sign of one’s inclination to take risks. As more data like this becomes available, it’s going to be an increasingly difficult argument to make that an intelligent and skilled immigrant workers somehow drag down the economy.

I think it’s just nuts that we place so many restrictions on immigration by highly-skilled workers. One can make a plausible argument (one I don’t agree with, but plausible) that current limits on immigration of low-skilled workers are necessary to avoid placing undue burdens on taxpayers, given that low-skiled immigrants might collect more in social services than they pay in taxes. But this argument simply doesn’t apply to a guy with 20 years of experience as a computer programmer or a master’s degree in economics. Such workers are all but guaranteed to have well-paying jobs and contribute to the tax base in the short run. And in the long run, some of them will go on to create successful businesses that will employ Americans and create new wealth.

So I don’t know why we don’t let every single person who has an advanced degree or can demonstrate significant technical skills into the country. It’s good for the immigrants, it’s good for the companies that employ them, and in the long run it’s good for everyone.

SHARE: 14 comments