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Read Articles and Entries From FAIR Staff Napolitano Misstates U.S. Immigration Law During CNN Interview |
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March 15, 2007
Greenspan: Professional Wages Too High, We Need More Immigration Former Federal Reserve chairman Alan Greenspan said allowing more skilled [FAIR comment: Notable is that Greenspan is now making explicit what was implicit in his remarks years ago that immigration would help slow wage inflation - immigration lowers wages. Also, Greenspan's remarks are similar to those made by economist Dean Baker with the liberal Center for Economic and Policy Research.] |
immigrants to work in the United States would help keep the income gap from widening. Inequality of incomes is the 'critical area where capitalist systems are most vulnerable,' Greenspan said yesterday in Washington at a conference on maintaining the competitiveness of US capital markets convened by Treasury Secretary Henry Paulson. 'You cannot have a system that we have unless the people who participate in it believe it is just,'" the Boston Globe reports. "Allowing more skilled workers into the country would bring down the salaries of top earners in the United States, easing tensions over the mounting wage gap, Greenspan said. 'Our skilled wages are higher than anywhere in the world,' he said. 'If we open up a significant window for skilled workers, that would suppress the skilled-wage level and end the concentration of income.'"|
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