Wednesday, April 6, 2016

An open letter to the 45th president

Vikram Mansharamani wrote an open letter to the future president of this country, highlighting five important issues that must be brought to his or her's attention once as a president. Vikram is a lecturer in the Program on Ethics, Politics & Economics at Yale University and a senior fellow at the Mossavar - Rahmani Center for Business and Government at the Harvard Kennedy School. 

In his letter, he talks about how restricting immigration would hurt American growth. 

"We need to open our doors to the highly skilled. Too many brilliant non-citizens who want to contribute to our economy (including graduates of our world-leading universities) are not able to do so. Last year, 233,000 people applied for H-1B visas, a program for skilled foreigners capped at 85,000. With the U.S. unemployment rate hovering near 5 percent, now is an opportune time to raise the quota. Economists have found that these individuals create jobs for native-born Americans and that artificially restricting their entry hurts American growth."

He then moves on to discuss how silicon valley has a lot of immigrants who helped start companies that are worth a lot. 

"Silicon Valley, where immigrants founded over half of the much-discussed private companies now worth over $1 billion."

Forbes said "Just looking at the top 10 companies based in Silicon Valley by NASDAQ market cap, many (40%) are run by someone who is a woman, an immigrant, or non-white. By individual demographics, 20% are women and 30% are foreign-born."

Vikram goes on in his letter then to talk about the economy, climate change, resource security and more. 
To learn more I've linked the source as well as the Forbes site with graphs about immigration.

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