CAPS — An oft-told lie these days is that Americans are just too stupid and unmotivated to do jobs in STEM (science, technology, engineering and mathematics). So to make up for this alleged shortfall in talent, many U.S. employers say they have to import foreign geniuses under the H-1B visa program. A related big lie is that Americans aren’t up to starting businesses anymore. Therefore we must bring in foreigners who – we are told – possess marvelous entrepreneurial talents far beyond those of U.S. natives.
Evidently buying into both of these fanciful tales, the New York City Development Corporation recently announced a scheme in conjunction with the City University of New York (CUNY). It proposes to import foreign technical entrepreneurs with H-1B visas to work on seven campuses of the CUNY system. The entrepreneurs would be employed by the colleges to spend more than half their time working with and advising professors and students. The remaining time they would have free to develop their businesses. The hope is that these businesses will succeed and provide jobs for New Yorkers.