The Gift of Global Talent: Innovation Policy and the Economy
"Expanding visa programs for high-skilled workers and talented foreign students is a strong lever for boosting innovation and growth."
What It’s About
Kerr reviews the research on high-skilled immigration’s effects on innovation, entrepreneurship, and economic growth and identifies them as strongly positive. He argues that while the U.S. remains a magnet for global talent, restrictive and inefficient immigration policies threaten this advantage.
Upshot
Kerr sees immigration as:
- Fuel for innovation: Academic research suggests that high-skilled immigrants significantly boost technology, scientific research, and entrepreneurship
- Boosting native-born workers: High-skilled immigration, especially when managed through poorly designed visa programs, can disrupt labor markets temporarily but ultimately create even greater long-term opportunities for native workers
Did you know? Over half of American PhDs in STEM fields are foreign-born.
Why It Matters
America's economic strength, for its skilled and unskilled workers alike, will always rely on its ability to attract and retain top global talent.
Who Wrote It
William R. Kerr is a professor at Harvard Business School and an expert on entrepreneurship, innovation, and the global movement of talent.