Capitalist Mindset No. 3—Immigration

As far back as a quarter century ago, in the early 1980s still living in Denver, I recall a magazine article (Harper's, I believe) discussing immigration from countries to the south and the blind eye the U.S. Congress was then turning to it. Most of the discussion then and now focuses on a range of ancillary issues—the Dream Act, border fence, Sheriff Joe Arpaio, now the Hondoran kids. . .

Generally, the news media seems too dim to notice the correlation between the persistent flood over the southern border and the demise of the U.S. Middle Class. Minimum wage has not been raised in five years and has fallen so far behind inflation and other parameters that it would be over $15, twice what it is today, if it had kept pace.

Though a few people benefit handily from this arrangement—business owners who can hire at a “prevailing wage” depressed by there being many applicants for every job. This is part of the public record as well: business and the stock market are thriving, wages are stagnant and the gap between the rich and poor here is close to those in countries immigrants left.

Of course, it simplistic to blame these problems on immigration exclusively; technology and the corruption that caused the 2008 housing bubble are also responsible.

It apparently takes more of a Critical Eye than the American media has to correlate these factors, but it is clear that businesses' capitalist mindset has its priorities in order: the bottom line first no matter what the impact on the rest of the society.