america doesn't produce more because it's difficult to become an engineer or scientist. not everyone is cut out to be one. as for being underpaid, haha i don't think so. i used to be an engineer and made 150k + benefits (ie, close to 200k total) with only a bachelor's and 10 yrs industry experience. that was the typical salary for my experience level at my company; plenty of people made more. engineers are not underpaid, at least not the ones in high tech. perhaps you're referring to civil engineers.
the reason people with degrees are making jack schitt is because the value of a 4-year diploma has become too diluted. in the 1950's, only a small portion of the US population graduated from a university. it is much higher now. that means more people with fluff degrees like art and psychology. seriously, how much do you expect someone to earn with a degree in art history? $13/hr, exactly.
They say a picture is worth a thousand words! India today: http://www.homeless-international.org/client_images/doc_images/DSC06836_corrr.jpg America 100 years ago: http://www.nyc-architecture.com/SPEC/024.jpg So now we are short of smart people and need the help of these H1Bs to get things done around here???
look at the history of Nautilus... it's crazy... "http://en.wikipedia.org/wiki/Nautilus" You know evolution is only a theory... There isn't the magic word in creation... Do you have an idea who is paying this research in stemcell ?
Your post is a great illustration why this country had to import highly-qualified workers, professors and scientists from abroad to do remain competitive... All the brilliant people like you are too busy making millions by day-trading ES.
Where are you from? What % of your native country's population has master's degrees? Bachelor's degrees? Where is your county in relation to stem cell research? Where is your proof that America is 10 years behind? How many nobel prizes did your country win? where is your country in in relation to median salary, etc. etc. etc. How many Americans go to your country for jobs or seeking citizenship as opposed to coming from your country to America for jobs or citizenship? What is your GDP compared to the GDP of the U.S.? Do you really want to compare the overall understanding of the US of science and math of the WHOLE population compared to your native country? Your country's people have no religious beliefs or superstitions? And a whole lot more questions like this... And sorry, we will not limit these questions just to your college-educated people, low % that might be, but EVERYONE...
I don't think you can put too much into college grads taking lower paying jobs. Back in the 90's when the oil field crashed again a friend of mine an engineer got laid off. He worked for me for a while for 8 or 10 bucks an hour, can't remember exactly, he did what ever it took to stay alive and pay his bills until the market came back for his services, which it did. He's been making over 6 figures for years now and ready to reitre. There is nothing wrong with working below your qualifications if that is what it takes to make, that is what survivors do, I've sure have in the past and would again if I had too.