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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (18276)	8/12/2003 7:12:27 PM
From: fedhead	Read Replies (1) \| Respond to of 19079

We do that all the time. Why do you think fruits and vegetables are so cheap here in California. Would you pay 20 bucks for your strawberries so we could pay the strawberry picker $50 per hour. IT is no different , the same laws of demand and supply apply. I would argue that the global market rate for IT work is much lower than current IT wages here which is why at current wages there is no demand for IT workers in the US . At much lower wages there is plenty of demand for IT workers which is why hiring is booming in Bangalore. US corporations are not willing to pay 100 K for an Oracle DBA when that same function can be done elsewhere for 20 K especially in an environment of excess capacity and weak demand. If the US imposes visa restrictions here, all that will happen is that these jobs will still go elsewhere or we will have migrant workers writing code instead of picking strawberries. What the US govt can do is insist that countries like China and India have a freely floating currency so as their currency rises against the dollar the momentum of jobs leaving US shores slows down. Of course that would mean higher interest rates here which could choke of the fledgling recovery. Anindo