Alan Greenspan renews call for H-1B expansion

For more than 15 years, former Federal Reserve Chairman Alan Greenspan has been a part of the H-1B debate, calling for raising or eliminating visa caps. He did so again this week.

Greenspan's view is that the economy will expand with the size of the talent pool. But is he a credible source for arguing that the H-1B cap needs to be increased?

At a Council of Foreign Relations conference in New York, Greenspan was asked by Steve Liesman, a senior economics reporter for CNBC, whether productivity can be improved, in part, through immigration. Greenspan did not miss the beat.

"I thought the H-1B program is much too small," said Greenspan. "Every other major country looks to the quality of whom they are inviting in, and we're not doing that: We're restricting that very significantly," he said, according to a video of the conference.

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