I happened across this article today: "US woman who moved to BERMUDA details STARK differences about life on the island - including very rigid rules she has to follow, from restrictions on number of cars she can own to the jobs she's allowed to get." It notes some of the restrictions on aliens residing in the country, which probably are not too different from any other countries including: aliens cannot purchase homes (it is not clear if this is just restricted to residential property or extends to all real estate) and "[t]he government of Bermuda states that foreigners cannot work jobs a Bermudian can do" without some special dispensation or approval. I would prefer these types of restrictions as to resident aliens in the United States over the free-for-all that we have.
The alien employment "free-for-all that we have" is labor arbitrage - the practice of seeking out the lowest cost labor to produce goods or perform services. This is why the tech industries are overrun with H1B workers, why H2B workers fill so many of the resort and hospitality jobs, why illegals do most of the construction work, and why illegals perform so many of the low skill jobs.
ReplyDeleteThe "wealth pump" in action. Unfortunately, the "wealth pump" not only enriches the elites but promotes social instability. The only way to avoid the "wealth pump," according to Peter Turchin, is to reduce the number of elites and stop immigration. But our elites think they can use surveillance, coercion and force. Although the wealthiest elites are also building doomsday bunkers and survival retreats.
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