April 14, 2018

ON THE OTHER HAND...:

WHY MIGRANTS ARE GOOD FOR THE GLOBAL ECONOMY (Devon Van Houten Maldonado, 4/14/18, Ozy)

Populists, nationalists and xenophobes have it all wrong when it comes to immigration. The arguments for building border walls, reducing legal immigration (or eliminating it), deporting illegals and turning away migrants cost taxpayers in rich countries a lot of money, but eliminating these barriers could increase gross domestic product and wealth for everyone.

Despite populists' passionate and tenacious opinions, decades of research show that more immigration, not less, creates prosperity for wealthy nations, and that the plus side of people flow extends to nonimmigrants. According to a 2016 McKinsey Global Institute report:

In economic terms, it's all about labor mobility. Contrary to popular belief, immigration barriers cost trillions in potential GDP. Economists agree that more newcomers equals more wealth, including for native-born workers, because immigrants occupy both the lowest-skill jobs and some of the most specialized, creating a more productive and competitive workforce.

"For the elimination of trade-policy barriers and capital-flow barriers, the estimated gains amount to less than a few percent of world GDP," says Michael Clemens, a senior fellow at the Center for Global Development, a think tank in Washington, D.C. "For labor mobility barriers, the estimated gains are often in the range of 50 to 150 percent of world GDP."


...they're right about....well...nothing.

Posted by at April 14, 2018 2:59 PM

  

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