Anorak | Want to Grow the Economy? Abolish Immigration Restrictions

Want to Grow the Economy? Abolish Immigration Restrictions

by | 13th, September 2011

WANT to grow the economy? Then abolish immigration restrictions.

No, not abolish immigration, this isn’t the BNP newsletter. Rather, the one big thing, the biggest thing in fact, that we could do to grow the world economy is to abandon all immigration restrictions.

That’s the outcome of a new research paper at least. In economic terms the argument is sound and beguiling. A very large part of how much you earn, how much you can produce, what your labour is worth (all, roughly, synonyms for each other) comes from where you had the good or ill fortune to be born.

Be born in a poor country and your labour is worth very little. Be born in a rich one and it’s worth a fortune. And yes, by global standards, even UK minimum wage is a fortune (no, really, £12,000 a year is very definitely riches compared to all the world).

So, if you allow people to move from poor countries to rich ones then their labour becomes worth more. Their

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Posted: 13th, September 2011 | In: Key Posts, Money Comments (4) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink