SURE, IT'S A "MYSTERY":

It's always been a mystery why those fearful of low-wage overseas workers don't clamor for more immigration. Don't they see the obvious?

When individuals reach the United States, their productivity automatically soars. Thanks to copious investment, those lucky enough to work in the U.S. do so exponentially more productively. And their higher wages support the previous contention. Much as some who should know better believe foreigners are coming for "free stuff," the more apparent truth is that they come for investment in all things American. Translated, work in the U.S. pays really well relative to other parts of the world.

This happy reality came to mind recently while reading about an interview with outspoken hedge-fund billionaire Bill Ackman. Commenting recently on what some errantly deem "inflation," Ackman asked, "Doesn't it make more sense to moderate wage inflation with increased immigration than by raising rates, destroying demand, putting people out of work, and causing a recession?"

Ackman is surely right about immigration. Legalize the inflow of willing workers. Humans are the producers of abundance, and the U.S. is where they can produce the most. It's very simple.

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