As the saying goes, so much to learn, so little time. One of many topics that I know very little about is economic theory. Few of my friends have a grasp of it either, although I suspect many of us, at times, think we have a handle on it.
To the rescue come Harvard professors Dani Rodrik and George Borjas, debating the economics (and the politics) of recently proposed US immigration reform, and specifically a guest worker program. Although Borjas and Rodrik hold different opinions on the benefits — social, moral, and economic — of the proposed reforms, Rodrik offers this common ground:
Interestingly, the difference of views has nothing to do with the economics of immigration, on which I think we all agree. Expanded immigration is likely to exert downward pressure on workers’ wages in the U.S. Where we disagree is on whether the gains to the rest of the world make this still a worthwhile effort (in the context, of course, of efforts to cushion the adverse effects on U.S.).
I’ll be keeping an eye on these two blogs, trying to gain some insight into the economic arguments for and against the latest proposed immigration reforms, the merits of which I am extremely skeptical, yet eager to learn.
