This is one of the dirty little secrets about foreign-born workers in so many professional fields. One of the reasons they work for so much less pay than their American counterparts is that they don’t have to cover the huge cost of a U.S. college education that simply isn’t worth what was paid for it.
I would prefer we close out borders and let MARKET FORCES ACT TO SET WAGES instead of arbitrarily setting them and forcing them down artificially through global labor arbitrage.
Good points. Especially your points about college debt.
I see this as (at least) a two layer problem:
Young people have debt but may not be terribly employable. They can be quite vocal about their need for “stuff” even if they don’t work.
Another layer would be long-time American workers who may be 40 or 50 or 60 and they are fed up with a system that just doesn’t seem to work anymore. There are a lot of early retirements out there. People are leaving corporate America and settling for much simpler jobs so that they can do more living and less careerism, because the careerism wasn’t satisfying.
I think our vision of “work” should be re-examined.