Edward Conard

Top Ten New York Times Bestselling Author

  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “…a very valuable contribution.” - Larry Summers, former Secretary of the Treasury and director of the National Economic Council, president emeritus, Harvard University
  • “Unintended Consequences should be read by anyone who takes for granted the superiority of progressive taxation and has not thought carefully about the trade-offs involved.” - The New Republic
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “Unintended Consequences is far smarter and more thought-provoking than most economics written for the general public” - Greg Mankiw, Harvard University, Former Chairman of the Council of Economic Advisors
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
Upside of Inequality Oxford Unintended Consequences

AI Summary. Roughly 250,000 recent graduates work in the U.S. under Optional Practical Training, which lets student-visa holders stay on after finishing studies and could be ended, and about 90% of Chinese-born science and engineering PhDs remain long-term. Tightening student and skilled-worker rules would worsen U.S. failure to retain graduates it trains.

Connor O'Brien Agglomerations
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Only 37% of international graduates earning BA’s, master’s, or PhD’s btw 2012 and 2021 remain in the US. Roughly 90% of Chinese STEM PhD graduates do remain in the U.S. long-term, though that is subject to changes contemplated by the Dept of State.

Would tighter student visa rules worsen U.S. retention of foreign graduates?

Core argument: Nearly 250,000 recent graduates are working in the U.S. under Optional Practical Training (OPT), a program allowing F-1 visa holders to work after finishing their studies, which may come to an end.

The Optional Practical Training (OPT) program, which allows recent graduates on F-1 visas to work in the U.S. after finishing their studies may come to an end. Nearly 250,000 recent graduates are currently working on OPT. Chinese-born graduates are a key source of technical talent for the United States; roughly 90 percent of Chinese STEM PhD graduates remain in the U.S. long-term. However, economic espionage and intellectual property theft linked to the Chinese Communist Party are serious, ongoing concerns. Last week, the State Department announced it would “aggressively revoke” visas for Chinese students, “including those with connections to the Chinese Communist Party or studying in critical fields,” in addition to revising visa criteria to “enhance scrutiny of all future visa applications from the People's Republic of China and Hong Kong.” These moves to tighten restrictions on international students and high-skilled workers would worsen one of the biggest problems with America’s immigration system: we fail to keep most students we train.

Takeaways by Macro Roundup® AI

  1. Nearly 250,000 recent graduates are working in the U.S. under Optional Practical Training (OPT), a program allowing F-1 visa holders to work after finishing their studies, which may come to an end.
  2. Roughly 90 percent of Chinese-born STEM PhD graduates remain in the U.S. long-term, making them a key source of technical talent, even as economic espionage and intellectual property theft linked to the Chinese Communist Party remain ongoing concerns.
  3. The State Department announced it would "aggressively revoke" visas for Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields, and enhance scrutiny of all future applications from China and Hong Kong.

Related Articles:

  • Most International Graduates of American Universities Ultimately Leave The U.S. — An analysis of the National Survey of College Graduates finds that only 41% of international students who graduated from American universities between 2012 and 2020 were still living in the country as of 2021, including 17% of bachelor's degree recipients. Scarce visas for skilled workers are cited as one reason.
  • The US Is The World’s Science Superpower — But For How Long? — International students on temporary visas received more than a third of US science and engineering doctorates, including 59% in computer science, with most coming from China and India, and 77% of Chinese doctoral recipients said they intended to stay in the US. The US hosts 15% of the world's international students, down from 23%.
  • Third-Country Effects of U.S. Immigration Policy — U.S. H-1B visa denial rates rose from about 6% to 16%, and the authors estimate a 10 percentage point rise in denials increases Canadian applications by 30%, roughly one Canadian application per four forgone visas. More exposed Canadian firms increased sales and hired about 0.5 native workers per immigrant.
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