Salient to Investors:

Caroline Baum writes:

  • Productivity poses the biggest threat to jobs and wages, not immigrants.
  • US expansions characterized by the strongest rebounds in productivity growth also witnessed the fastest pace of job creation – e.g. in 1970, 1975 and 1982.
  • Duke University and UC Berkeley found that a quarter of US tech and engineering start-ups between 1995 and 2005 had at least one foreign-born founder, and more than half of those in Silicon Valley.
  • The Kauffman Foundation found that the share of immigrant-founded companies nationwide shrank by 1 percent to 24.3 percent in the 2006-2012 period – in Silicon Valley, it fell from 52.4 percent to 43.9 percent. Kauffman said more than half the foreign-born founders of US tech and engineering companies came here initially to study.
  • The US got to where it is today by letting people in, not keeping them out.

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