Monday, July 8, 2013

Relaxed Immigration Law Feed the US Economy's Growth


The economic prosperity of the United States in the last century was unparalleled, due to the fact that immigration laws and procedures were much more relaxed. It wasn't until the 1920s that the government began to turn away people who were of good moral character, which was all that was needed to enter the US previously. Following the ideals etched into the Statue of Liberty's plaque, America thrived.

Then, America started a series of rules and regulations based at least in part on the Malthusian theory: that there just isn't enough wealth to go around and immigrants would dilute the prosperity of those already in the States.

This is untrue, of course. States with the highest population density such as Monaco, Hong Kong, and Singapore have thriving economies while smaller population density, like in Sudan and Mali, make the state poorer. Population growth is undoubtedly linked to economic prosperity.

Read the entire article on Forbes.com