Startups And Immigrants

Thomas Friedman, New York Times: Start-Ups, Not Bailouts

“Between 1980 and 2005, virtually all net new jobs created in the U.S. were created by firms that were 5 years old or less,” said Litan. “That is about 40 million jobs. That means the established firms created no new net jobs during that period.” ..... “Roughly 25 percent of successful high-tech start-ups over the last decade were founded or co-founded by immigrants,” said Litan. ...... What made America this incredible engine of prosperity? It was immigration, plus free markets...... “We ought to have a ‘job-creators visa’ for people already here,” said Litan. “And once you’ve hired, say, 5 or 10 American nonfamily members, you should get a green card.”

Voices like that of Friedman are important because we are about to embark upon the great national debate on comprehensive immigration reform. The success on health care will make it easier to wade through this new debate because success will be a foregone conclusion, but some of the debate is going to be nasty. We have to brace for that. Free speech can try you sometimes.

Fred Wilson: Immigration Reform And The Jobs Bill