You may remember a few days ago Stephen Moore, Trump’s new Federal Reserve Board pick praised the H-1B program.
Now an economist from the Reagan era, and “supply-side economics” champion, Arthur Laffer, most well known for the “Laffer Curve” has joined in in praising Moore.
Too bad both favor more oversupply of labor markets via H-1B visas for millions of foreign workers, which suppress wages, and stagnate the economy.
We’re sure Laffer also remembers Reagan telling Honda in 1984: “If you want to sell your cars here, you have to build factories here and employ our people“.
Would Moore or Laffer, tell that to India Inc staffing comapnies such as Tata, InfoSys, or Wipro?
“If you want to do business here, and service IT clients here, you have to hire our programmers”.
Go ahead Laffer, or Trump, for that matter – let’s see you tell them that.
The reality is Moore is just the next cheap-labor puppet of the Chamber of Commerce + buisness lobby that run DC. Just like Alan Greenspan was – who destroyed millions of American lives under Bill Clinton in the late 1990’s by flooding the US with H-1B visa increases.