alt Hacker NewsNo it isn’t.
There are two instances on this website where supply and demand seemingly do not apply. Wages in tech engineering, and housing costs. Specific carve outs are always made to make the conclusion that, for some reason, this positive supply (workers) and demand (housing) shock has no or marginal impact on wages and housing respectively. It’s very odd since most here work in roles where supply and demand of course apply so it’s not like people are unfamiliar with the math here.
Show me the reduction in cost for medical care when 1/4 of the doctors in the US are foreign born medical grads, the bulk of whom came through the H1B program.
Show me the American born doctors on the street going hungry while foreigners take their jobs. Show me the reduction in wages or costs.
> supply and demand seemingly do not apply. Wages in tech engineering, and housing costs.
Were drowing in data on both of these things and if you want to understand either of these markets from an economic standpoint then your going to need more than a surface level "supply and demand" argument when they look much more like "I, Pencil" levels of complexity.
Im going to say this bluntly, every terrible engineer I have worked with, who has been fired for being bad at their job has been American born and raised. We're not importing dead wood and dummies to fill in roles as cogs on the h1b program. These are smart people who end up in high level roles who end up staying and becoming Americans (agin raising the bar).