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Saturday, December 04, 2010

Skill premium

There used to be a skill premium. People would go to college to earn more pay. Fact is, there used to be a time when $30,000 per year was the average wage for a computer programmer. However, you can find a man in india to do this job for $3,000 per year. As a result there is much out sourcing. Jobs in america are now drying up. That programmer in india dreams that one day he can come to america. Not to program a computer, but to work in a 7-11 for the minimum wage.