Exhaustive San Fran Fed Study Finds That, Gasp, Immigrants Are Good For The Economy
Submitted by Tyler Durden on 08/30/2010 18:41
The San Fran Fed conducts yet another mindnumbingly (and taxpayer funded) obvious study, this time uncovering what everyone with half a brain knows: namely that immigrants aregood for the economy. But don't tell that to all those who want the H1-B program destroyed and to seal of the Mexico-Texas border by digging a mile deep trench filled with sharks with laser beams attached to their heads. Setting aside the fact that absent a surge in immigration, and a forced household formation impetus, the demand curve of the home price equilibrium chart will continue shrinking until homes will be worth less than half, to have to explain to other economists that immigrants are a net-net positive just makes one wonder about the inbreeding trends prevalent within the Keynesian shaman elite (how about the FRBSF do a study on that for a change?). But of course, stating the obvious would not get one too far in the citation-demanding economotenure track, so instead author Giovanni Peri, uses polysyllabic words such as: "Statistical analysis of state-level data shows that immigrants expand the economy’s productive capacity by stimulating investment and promoting specialization. This produces efficiency gains and boosts income per worker. At the same time, evidence is scant that immigrants diminish the employment opportunities of U.S.-born workers." And since none of those who are convinced that immigration, and not laziness, or flawed fiscal policy, is the main reason why nobody is not only having a job, but looking for one, will actually read this paper, we once again ask politely and simply: "why the hell was this thing commissioned, and how much did the national deficit increase because of its completion?"