2 Comments
Apr 29Liked by Allison Schrager

We are going to look back and realize immigration is a huge factor in avoiding the recession. There's a reason why outside of a few politicians in the West, all elected officials, regardless of their campaign, do not crack down on immigration once in office. Just look at Brexit and Meloni from Italy--both campaigned on lowering immigration, and now it's higher than it's ever been. The extreme example is Canada, which may have overdone it and is facing backlash from the natives. Productivity is the most important part of the economy and it's much easier to juice the economy by using poor immigrants who won't ask for benefits and raises. Note that this isn't a right-wing diatribe against immigrants, if anything, they are the Ponzi scheme victims in all this, propping up the rich Western capitalist class, in exchange for the possibility of entering the Western middle class and beyond. Since globalization is reversing, the policymakers have decided to just bring the globalization home.

Expand full comment

Florida is one year into an experiment to define how much of its economy is dependent on illegal immigrants in the workforce. It is not going well for some sectors such as agriculture, construction, and hospitality. https://www.wesa.fm/2024-04-25/businesses-in-florida-struggle-after-one-year-of-strict-immigration-law

It would be nice if they could speed up the process by which asylum seekers get work visas and can be productive. But that would get in the way of political speeches.

Expand full comment