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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

Wages or Shortage?

By Megan McArdle
Apr 1 2008, 9:59 AM ET Comment

[Peter Suderman]

Dean Baker on tech employers who want to expand the number of H1B visas for high-skilled workers:

The argument from high-tech employers, that they simply can't get enough high tech workers in the United States is ridiculous on its face. If these jobs paid millions of dollars per year (like jobs at Wall Street investment banks), then highly skilled workers would leave other occupations and develop the skills necessary to work in high tech occupations. Obviously, Bill Gates and the other high tech employers cited in this article want to be able to employ high tech workers at lower wages. The issue is wages, not a shortage.


Dean Baker's a sharp guy, and he's not entirely out of touch here, but I think he vastly oversimplifies things. It's certainly true Microsoft could change education patterns and employment goals in the country if it dramatically boosted the salaries of certain positions. But it's not always that easy for employers to simply throw more money at salaries.

For example, I spoke to someone a few nights ago who owns and runs a successful coffee shop here in D.C. She said that one of the most difficult things about the business is retaining and managing staff. Finding employees who are reliable and qualified (whether those qualifications are as complicated as doctoral degrees or as simple as being able to work flexible hours) is tough in any business. Somehow I doubt this would be as much of a problem if she paid them all $50 or $100 an hour. That, however, is a plainly absurd idea.

Basically, though, that's what Baker's suggesting Microsoft do. While Microsoft obviously works on a vastly different financial scale, it still faces a similar difficulty: managing a finite amount of resources and trying to get the most return from them. Simply expecting the company to boost wages through the roof is unrealistic. But if those are the expectations, then advocates of keeping current restrictions are going to be disappointed when they see more and more companies following Microsoft's lead and opening up facilities like this.

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