The Future Implications of Current Visa Restrictions

The Future Implications of Current Visa Restrictions

Steven Obadiah

On June 22nd, the White House released a proclamation suspending the entry of foreign workers who may hinder U.S. economic recovery by filling job openings that could otherwise be filled by citizens. The proclamation was issued under the logic that high unemployment will persist if labor supply outpaces labor demand, and it is intended to last until the end of 2020. The administration argues that this policy will mostly help historically disadvantaged groups – those that are “last in” during expansionary periods and “first out” during contractionary periods. Workers on certain visas (including H-1B, H-2B, J-1, and L-1) are subject to this suspension, though there are also exceptions to this policy change such as workers in healthcare and agriculture who are necessary in combating COVID-19 and ensuring a stable food supply. A senior official of the Trump administration commented that the proclamation intends to protect nearly 525,000 jobs. Some industries – particularly the tech industry – have been vocal in criticizing this suspension, as many industries rely on such visas for effective and, sometimes, cost-efficient employment. This policy, as well as the years preceding this proclamation, may serve as a future case study for arguments against some forms of wealth distribution like universal basic income.

The Impact of Covid on the Hospitality Industry

The Impact of Covid on the Hospitality Industry

Luke Jachim

Since the World Health Organization declared the Covid outbreak to be a global pandemic on March 11 of this year, domestic and international travel has drastically declined. Among the sectors impacted by the border closures, travel restrictions, and visitor quarantine measures throughout 217 countries, the airline and hotel industries have been most heavily affected by the economic shutdown. The restrictions initially began due to widespread general social limitations but have infiltrated every corner of the American economy (Lee). Of the $8 trillion globally produced by tourism in 2018, the United States generates the largest portion at $214.5 billion. As we enter the peak season of leisure travel, mid-June through August, it is evident that the US is vulnerable to losses if the restrictions and regulations persist on the tourism industry (Quinn).

COVID-19 and Latin America: How Bad Can It Affect the Region?

COVID-19 and Latin America: How Bad Can It Affect the Region?

Mauricio Ramirez

International crisis of COVID-19 has thousands of people in Latin America asking themselves how to face it and it leads to the question of how bad the Latin American economy will be affected. Many people have lost their jobs internationally and now the question for many in Latin America is the not obvious effects of the pandemic in the economy of the region. The novel Covid-19 was expected to create an economic contraction in Latin America and the Caribbean of -5.3% (ECLAC). The margins of development of the region for this year were already low at 0.4%. Nevertheless, the effects of the pandemic has worsened the current rate of growth, and the predicted -5.3% margin of development is the worst rate of expansion of GDP in Latin American history. For context, the previous recessions in both 1914 and 1930 were -4.9% and 5% respectively (ECLAC). The pandemic has shown external economic damages such as the decrease in the price of commodities and structural problems that the countries of the region are being affected by such as the informal worker market and trade.

Wireless Charging: An Old Invention That Could Shape the Modern World

Wireless Charging: An Old Invention That Could Shape the Modern World

Shraiy Gupta

If you are a smartphone user, you may have heard of the recent phenomena of wireless charging. You just put your phone down on a pad, and the phone charges itself. You don’t have to haggle around for a cable and try to blindly attach your phone to a charger. The technology is everywhere, including phone stands, furniture, and a premium add-on feature in most modern cars. But it still begs the question, how is the power going from the source to your phone? We know Arthur C. Clarke said, “Any sufficiently advanced technology is indistinguishable from magic.” But is it really magic?

German Politics Are in Dire Straits

German Politics Are in Dire Straits

Adam Hilelly

Germany, long heralded as the leader of the EU, has recently been undergoing several political crises. Angela Merkel, the country’s long-standing and respected leader, has announced that she would not be seeking re-election in 2021. To complicate matters further, Annegret Kramp-Karrenbauer, who was expected to replace Chancellor Merkel, has stated she would not seek the leadership role in Germany (The Guardian). The announcement stunned analysts, voters, and other EU members, as they had long thought that Merkel’s party, the CDU, would undergo a smooth and effective transition. However, the decision may have been ultimately wise: Kramp-Karrenbauer was not as widely popular as she seemed to be in the CDU itself, owing to several controversial jokes and an inability to rally voters around immigration. The politician did not have the full backing of the party and came to the conclusion that she should resign after insisting that the CDU not cooperate with the AfD, a far-right party that emerged out of the opposition to the open-door refugee policy enacted in 2015. Germany’s second political crisis concerns the AfD’s internal divisions that create uncertainty for the 2021 elections. These two sets of complications will greatly muddle Germany’s entrance into the 2020s.

Uber’s Attempt to Buy Grubhub

Uber’s Attempt to Buy Grubhub

George James

On May 12th, news broke that Uber was in talks to buy Grubhub in an all stock takeover that would combine two of the biggest companies in the meal-delivery industry. By June 10th, talks between the two companies had ended as news broke after the bell that Grubhub would be merging Just Eat Takeaway.

Is Racism an Inevitable Product of Capitalism?

Is Racism an Inevitable Product of Capitalism?

James Ottomanelli

The death of George Floyd at the hands of a police officer has sparked protests across the globe, with thousands upon thousands rising up against systemic racism. In some ways, this feels disturbingly routine, echoing what’s happened in Ferguson, Baltimore, Los Angeles, and any other city that has exploded in response to police brutality. While the comparisons are unavoidable, this time around things are different. For one, this modern movement has been markedly interracial, suggesting a new wave of opposition that is uniting groups like never before. Additionally, the unprecedented backdrop of a global pandemic-induced recession seems to have expanded the conversation towards a broader anger over the brutality, injustice, and inequality that pervade American society, with African Americans at the brunt of all this. People are fed up with “the system”, which whether they realize it or not, is capitalism. Furthermore, calls to “ defund the police” are really just part of a much broader fight to eliminate capitalism.

How a Clock is the Missing Piece to Deep Space Travel

How a Clock is the Missing Piece to Deep Space Travel

Jaret Prothro

Imagine this scenario: You are tasked with shooting an arrow and hitting a target the size of a quarter. This in itself is a pretty difficult task that requires immense accuracy. Now, the quarter-sized target that you are tasked with hitting is sitting in Times Square, New York, and you are standing in Los Angeles. This is the example that Jill Seubert uses to contextualize her job as a deep space navigator. Seubert is in charge of steering spacecraft from the moment they separate away from the launch vehicle until they reach their final destination. She has the opportunity to adjust the course of the spacecraft (the arrow in the analogy) only a couple of times along its trajectory. But in order to make the necessary adjustments, she must know the exact location of the spacecraft at any given moment in time.

Bankrupt Companies: Retail’s Façade

Bankrupt Companies: Retail’s Façade

Jack Geiger

Institutional investors and algorithms that provide a massive amount of capital, and therefore volume, have driven markets since roughly the turn of the century. Hedge funds and investment banks simply have an immense amount of capital compared to individual investors. As of late, the weight of market players shifted. Federal stimulus recipients and even sports gamblers were introduced to the market recently, and provided an unprecedented result. Over the past year many online brokerages became commission-free, causing households to start trading outside their 401ks. According to the Wall Street Journal, TD Ameritrade’s daily average client trades before they became commission free was about 870,000. After they became commission-free, that number soared to almost 3,000,000. The increased volume has sparked a brisk recovery from March lows and volatility in bankrupt and near-bankrupt companies, creating a façade.

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