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Visa Restrictions May Cause Ripple Effect on US Economy A report released recently by researchers at Carnegie Mellon University’s Software Industry Center indicates that the United States’ efforts to restrict immigration may hamper the economy, as overseas scientists and technologists travel to other countries to develop new technology. The report, “Europe in the Creative Age,” says that the worldwide perception of the United States as unilaterally aggressive and unwelcoming of foreign-born people is pushing individuals to seek opportunities in other nations. With this shift, European nations, which are considered more tolerant, will be in a position to benefit from innovation and economic growth. The US has long been considered the unchallenged leader in attracting international talent. A study at the University of California shows that new immigrants founded about one-third of all high-tech businesses created in Silicon Valley in the 1990s. However, statistics show that visas for foreign-born workers in science and technology fell by an astonishing 55% between 2001 and 2002.
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