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by yongjik
25 days ago
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You're putting the cart in front of the horse. If the US economy didn't need low-wage immigrant workers, we wouldn't be complaining about them in the first place, because they would've gone somewhere else where the jobs are. The fact they're coming the US literally means its economy needs them. Of course we could all wax philosophical and say "Nobody needs a Frappuccino every other day, we just want it," but then nobody needs to live in a prosperous economy anyway. |
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Classical economics would argue that higher population tends to increase productivity (economies of scale and specialization) while lowering wages, increasing land value, and improving returns on capital. Free trade has a very similar effect. You can find this analysis in all standard texts (Smith, Riccardo, etc) and even progressive works such as Progress and Poverty by Henry George.
Different groups are free to have different opinions of this tradeoff. Big landowners benefit immensely while working class renters only suffer.