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The global economic crisis is already creating pressure for the United States to further restrict skilled migration. The economic stimulus act that President Obama signs today limits the ability of many companies receiving stimulus money to freely employ highly skilled foreign workers on H-1B visas.
By providing fiscal stimulus and strengthening financial sector regulation, of course. But that may not be enough. Will the U.S. and the Europeans also revisit the idea of a global social contract -- to protect millions of people losing their jobs in developing countries? In a speech I delivered to the Dutch Scientific Council in December, I argued that