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https://youtu.be/NCiiS-UlXMY?list=PL9hNbo_Ztnr9kyeIy53_uudXtRPTbOjAw&t=1360 Something to ponder.. 22.43min to 27:13min Petter Schiff talked about illegal immigrants in USA and misconceptions people have. He come to explain some of the misconceptions about illegal immigrants take away American jobs and lower down wages. Having listened to his explanation, somehow it also applies to Singapore, replace the word illegal immigrants with foreigners and the whole things makes a lot of sense to Singapore context. People keep complaining foreigners come in Singapore that took away our job and taking down our wages, is that true? Foreigners come in Singapore that took away our job, debate: Not so true as there is unlimited amount of work. There is no limit to the numbers of jobs that can be created. Foreigners come in Singapore that lower down our wages, debate: Not so true, let's assume because there are foreigners come in, Employer can hire foreigners can do things at a lower price then they would have to pay higher if these foreigners won't here. Let's say we are getting an influx of skilled workers, carpenters, plumbers, tailors, mechanics. Let's say your sink is clogged up and you want to call plumbers. If there's more plumbers here and because there is more plumbers, employer can hire plumbers for less money, cost of hiring plumbers goes down. The debate is less money to hire plumbers, more money to spend someplace else. Foreigners help bring down the cost of doing business and ultimately bring down prices and that benefits everyone, its a good idea to have more workers in the economy. There are a lot of foreigners that come to Singapore that jobs that Singaporeans won't do. The only way these job (that Singaporeans won't want to do ) gets down is because these foreigners did them and if these foreigners won't here, the jobs won't get done, and a lot of these companies won't exist here anymore and so a lot of higher paying jobs will go away. Because without lower paying job doing the job, higher paying jobs will not be possible. It is an chicken and egg debate. However, there still need to have foreigners that need to fill up jobs that many Singaporeans do not want to do. Many companies would not have exist if unable to find lower paying workers and likelihood, a lot of higher paying jobs will not be here and many Singaporeans would also suffer.
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