Reprinted with permission from Alternet.
This post originally appeared on the blog of the Institute for New Economic Thinking.
You’ve probably heard the news that the celebrated post-WW II beating heart of America known as the middle class has gone from “burdened,” to “squeezed” to “dying.” But you might have heard less about what exactly is emerging in its place.
In a new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy, Peter Temin, professor emeritus of economics at MIT, draws a portrait of the new reality in a way that is frighteningly, indelibly clear: America is not one country anymore.…
Reprinted with permission from Creators.
Let’s describe the problem with an example. A few years ago, Southern California Edison employed 300 foreign tech workers through the H-1B visa program. They took the jobs of American IT specialists who suffered the added indignity of having to train their replacements.
The foreign workers were paid at least $40,000 a year less than the laid-off Americans. The Americans couldn’t complain publicly to Congress because the company had them under a gag order.
All this was perfectly legal.
Up to 85,000 skilled foreigners, mostly from India and China, come to this country a year under the H-1B program.…