256. The relationship between migration controls and economic meltdowns

Our economic system relies on demand to sustain growth. For most goods and services, current productivity means supply is no longer a bottleneck, we can produce as much as we can consume. When things are good, we spend more. This creates jobs and pushes wages up, in turn increasing consumption, and so on. Our economy grows and workers become richer. However, a point comes when there are more goods and services in the economy than we can consume. Demand dries up and excess goods and services accumulate. This leads to job destruction, which further reduces demand, sending our economy into a recessional spiral. But demand does not need to dry up. Open borders, which welcome immigrants, would fuel it. Our politicians and citizens are stuck in a lower productivity mindset, we think we need to select immigrants on the basis of what they can produce but, alas, what we need is spenders. People who arrive with nothing, and therefore must buy everything, keep demand going and the economy growing

Length: 1,000 characters 

Comments

Popular posts from this blog

98. Choosing the best sources

283. The trouble with journalists these days

251. The privacy debate