The American Dream

America is the only country in the world which represents the dream of a true multicultural society, Successive American presidents nurtured this dream because they knew what fueled the phenomenal growth of the country. Immigrants constitute a small minority of the US population. But they are highly qualified in science, technology, engineering, mathematics, and computer science. Over 60 % of Nobel Laureates in the US universities are immigrants. Silicon Valley the global center of technological innovation is manned by immigrants, about 50% of what venture capitalist Aileen Lee figuratively called Unicorns and 40 % of famous Fortune 500 companies were set up by immigrants or their children. Most of these immigrants came through the H1-B visa or L-1 route and are the ones who published papers, applied for patents and set up enterprises. This is the powerhouse that has made modern America. They have adopted America as their home for several generations.  It needs to be said that a very large component of these enterprising immigrants are Asians mostly of Indian origin. They are known as Indian Americans.

But there is another America, the white, nativist, rightist America consisting of white Americans not exposed to higher education. They consider themselves the original May Flower immigrants. In a country of immigrants, they consider themselves and their descendants as the natives, not the Red Indians, the true natives of the promised land.  Although greatly enriched by the economic miracle created by these ambitious, mostly Asian immigrants, these so-called natives detest them as ones who took away their jobs. Fact remains that they would never be eligible for these highly skilled jobs. They are jealous of their success stories and consider these nonwhite immigrants as invaders. Trump has cultivated this grievance and is supported by these nativists.

This is the dichotomy of American culture. To win election Trump antagonizes the very section of the population which catapulted the country into its trajectory of the most powerful country of the world. This is the arithmetic of his policy of banning several categories of visas through which talented immigrants came to USA and made USA their permanent home.

Trump has shielded his order under the cover of emergency created by corona virus on the ground that there is a colossal job loss to native Americans and it is necessary to temporarily ban these visas at least up to the end of 2020. But that is his election strategy. Once he is elected again for the second term, he will religiously stick to this ban to satisfy his constituency.

I think immigrants know this well and they have started searching other safe heavens wherein their talents are in great demand like Canada, Australia, New Zealand, Germany. But this seems to be a short-sighted policy. Overall, it appears that globalization is at an end. Countries are reverting to their shells. Free movement of human beings across the world threatens to remain simply a utopian pipe dream.

We have started wooing foreign enterprises set up in China because they intend to shift from there. We have offered them all incentives. But Indian Americans are our own people. They will be only too eager to set up ventures in India if they are convinced that our old mind set has changed and they can build the same success stories here as in USA.

Why not convert this obstacle into an opportunity? Why not develop our own homeland into a land of unlimited opportunities? We have, fortunately, a political leader and government poised for taking advantage of such situations. We have one of the largest markets in the world and comparatively young and talented population. We need to educate our leaders to start processes by which we can initiate a reverse brain drain and convert our economy into a most prosperous world class economy. Having said this, I admit that the job is arduous but not impossible.

Published by profkcmehta

Prof. Mehta is Ex- Pro-Vice Chancellor of the prestigious Maharaja Sayajirao University of Baroda. During his long and illustrious academic career he worked as Professor and Head of the Department of Accounts and Financial Management and also as Dean of the Faculty of Commerce. He finely balanced his academic knowledge and professional career founder partner of the firm, K.C Mehta & Co, Chartered Accountants over more than six decades. He uniquely complimented and leveraged academics and profession where practical knowledge was translated in teaching and culture of high academic excellence was enshrined in the firm he set up.

3 thoughts on “The American Dream

  1. As an international business development person for a Swiss scale-up, my default go to place was India. However, the regulatory and bureaucratic hurdles are too many to count before thinking about infrastructure costs. This meant that a small company would take months to setup with lot of up front investment with no ROI in sight. I compare that to Japan or parts of USA where I could setup a business in less than three months and get various incentives like tax breaks and starter packs including translator service. There have been considerable recent efforts to woo tech industry collaborations by India but it still remains out of reach for SMB sector. Unfortunately, it is still perceived as a place to outsource defined services and even here it is often priced out by other South Asian countries. Still a lot of work to do!

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    1. Nehal, you are absolutely right. I myself know some of our clients in Banglore who are based in foreign countries are not used to our cumbersome labour laws and have no emploees on their payroll. They outsource all their routine work, We have to go along way to attract foreign investors. Persons like you could get together, prepare a note giving comparative position as you have pointed out and send straight to the PM. But we must certainly change.

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