Why Greater Openness to Immigrants in the Rich World Will be Disastrous for the Developing World
A couple of weeks ago, the Economist published a headline article calling for greater openness to immigrants. True to its name, the magazine argued that a person with desirable skills is dozens of times more productive in the (rich) immigrant destination country than s/he would ever be in the (poor) home country. The increase in productivity makes sense in a multitude of ways: the dramatic increase in living standards for the immigrant, overall economic productivity for the immigrant host country, and the corresponding increase in tax revenues that come from the economy having a higher productivity.