Increased immigration of low-class workers is politically unpopular in the heartland. In fact, even importing certain skilled workers is unpopular among the rank-and-file, as casual criticism of H1-Bs shows.
Instead, since the 1970s, US thought leaders and business leaders of both parties long pursued similar trade policies that embraced deregulation and open markets, which allowed similar gains to be realized by US businesses operating in a globalized world (e.g. outsourcing, offshoring, integrated supply chains).
SV companies pay generously because dozens of companies flush with cash are all competing for the same pool of veterans of other companies. Any company that has less profit per employee (most small businesses) can scarcely afford to pay a premium for rank-and-file employees with domain experience; nor is there enough effortless mobility in specialty skilled manufacturing roles to make such escalating wages necessary.
Instead, since the 1970s, US thought leaders and business leaders of both parties long pursued similar trade policies that embraced deregulation and open markets, which allowed similar gains to be realized by US businesses operating in a globalized world (e.g. outsourcing, offshoring, integrated supply chains).
SV companies pay generously because dozens of companies flush with cash are all competing for the same pool of veterans of other companies. Any company that has less profit per employee (most small businesses) can scarcely afford to pay a premium for rank-and-file employees with domain experience; nor is there enough effortless mobility in specialty skilled manufacturing roles to make such escalating wages necessary.