Word: slaughtering
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...SLAUGHTER: Because these are the smart kids that drive innovation. But with the rising global engagement of China and India, these students could have better options back in their home countries...
...SLAUGHTER: Much of the discussion is breathlessly waiting for next month's unemployment report and seeing how many manufacturing jobs there are in Ohio and Florida. That is nowhere near sufficient to grapple with the sort of issues we've talked about. The median person in the U.S. labor force today has a high school diploma and about one year of post-high school education. That person is going to have a job, but how productive and how highly compensated is that job going to be? Maybe we could have tax cuts for less skilled Americans...
...SLAUGHTER: I would also love to hear more discussion about immigration...
...SLAUGHTER: One could start with the issue of How many H1-B visas are we going to issue? You want to ameliorate the pressures in the labor market, but you should also try to soften the impact, at least initially, of more workers arriving in the system who will compete with workers...
HIRA: I think Professor Slaughter doesn't understand fully how the H1-B is being utilized. Many of the Indian IT firms--their whole business model is about bringing in inexpensive foreign labor so they can underbid their U.S. rivals. This discussion is an important one, but it's all about how a U.S. firm will benefit from globalization. There's no guarantee these firms will actually hire U.S. workers to serve those markets. There's a fundamental shift in the bargaining power between workers and firms...