Skilled shortages in America exist because we are…
![“Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism. In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by…” quote by Alan Greenspan](https://sms4smile.com/q/img-quotes/e7f/alan-greenspan-1834_america_skilled-shortages-in-america-exist-becau_52819.jpg)
“Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism. In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals. Eliminating such restrictions would reduce at least some of the income inequality.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Immigration caps on skilled workers create a protected elite, inflating wages and widening income gaps; removing caps would let market forces balance pay and reduce inequality.
In simple terms: Immigration limits inflate elite wages, widening inequality.
Key Takeaway
Removing caps can lower wage disparity.
Themes
Labor economics
Immigration policy
Income inequality
Market mechanisms
Protectionism
Mood
Analytical
Critical
Concerned
Type
Policy statement
Economic observation
When to use this quote
- Policy debates on immigration reform
- Corporate hiring strategies
- Economic inequality analysis
- Public discourse on wage gaps
Key Concepts
Skilled labor market
Wage determination
Quota effects
Economic inequality
Practical Applications
- Advocating for open skilled immigration
- Designing wage-adjusted immigration policies
Questions to Reflect On
- How would open skilled immigration affect wage structures?
- What alternatives exist to address income inequality without altering immigration quotas?