Go no further than the following segment on Sunday’s 6o Minutes about imported labor to understand the creation of Trumpism and the mess we find ourselves in today. UCSF, part of the University of California, the largest private employer in California should be ashamed.
Totally disgusting. First, the UC system is not a profit based organization. Second, Janet Napolitano probably makes north of US$1 million and she is importing labor to replace $60 K per annum workers? And then asks them to retrain their replacements? Shame.
Recall we have posted serveral pieces on how international trade and finance academic literature has not kept up with the real world. The prevailing assumption in graduate school was labor and capital immobility. No longer. Complicated.