Migration and free trade impose huge unrecognized costs on ordinary people, says a Nobel-awarded Princeton economist who previously supported the unpopular, elite-backed policies.
“I used to subscribe to the near consensus among economists that immigration to the US was a good thing,” Professor Angus Deaton wrote in a post for the International Monetary Fund. He continued:
Longer-term analysis over the past century and a half tells a different story. Inequality was high when America was open [to migration], was much lower when the borders were closed [to migrants], and rose again post Hart-Celler (the Immigration and Nationality Act of 1965) as the fraction of foreign-born people rose back to its levels in the Gilded Age.
On free trade, he wrote: MORE
Oh yeah, baby! Rocket scientist of the year right there. How many years at evil economics school? Should that be Doctor Obvious?
Migration was a huge boon to the US, more than a century ago.
But the rules were different. There were no government-provided safety nets. This was the land of opportunity – but it required hard work, willing change to the American culture, and the only help you got was from family and perhaps some local charities, which in turn you would support for the next generation of immigrants.
Now, the sole goal of immigration is to be on welfare in a first-world country. Work opportunity means nothing to those illegally crossing the border. And even some of those going via legal means are here only because greedy corporations see them as a cheaper alternative to US citizens. Trump was right (of course) when he said that America does want immigrants – and that we want the ‘best we could get’ from other countries (I don’t recall his exact words).
Some Economist!
The poor bastard can’t forecast past the end of his nose!
The only good migration…
https://www.youtube.com/watch?v=LBAeuZ_lpr8
RIP Jimmy
“Nobel Prize”
The Mr. Magoo of Economists!
Boy have Progressive shitz destroyed the Nobel brand… like everything else they touch! If
I ever met a recent Nobel prize winner I would slap my knee, laugh and ask “Who’s democRAT cock didja have to suck to get that!?!?”
DYNOMITTE!
J.J. walker
Nobel lost ALL CRED when they gave the award to “Barky” for achieving F@CK @ll in his first few months.
LBS,
I luv ya but…
Buffet sang at Slick Willy & Killary’s 1992 campaign.
Cheers, just Fkn around.
I suspect he dined on calf brains (sweet meats) last night.
That’ll make any liberal economist much smarter the next day.
In other words, either he or someone he cares about got assaulted, raped, or murdered by some “migrant” scumbag who was in a turd world prison a year ago.
Only a PhD could be so slow on the uptake of what a horrible idea it is to dump millions of people from multiple dysfunctional turd world hellholes into a functioning first world society.