Impact of Migration on Economic Growth and Innovation

SOURCE www.breitbart.com
Larry Fink of BlackRock believes that developed countries with shrinking populations will benefit from advanced technologies like robotics and AI, while countries with expanding populations need to focus on education and the rule of law. The article discusses the impact of migration on economies, productivity, and political strategies.

Key Points

  • Labor shortages historically have bumped up wages and boosted innovation.
  • Recognizing the negative impact of mass migration on inflation, housing prices, and interest rates.
  • President Biden champions pro-migration policies while some economists and policymakers recognize the economic downsides.

Pros

  • Advanced technologies can boost productivity in countries with shrinking populations.
  • Focus on education and the rule of law can benefit countries with expanding populations.
  • Recognizing the economic damage caused by mass migration.

Cons

  • Economic policies may have pushed native-born Americans out of certain careers.
  • The extraction migration policy has led to a rising death rate among low-status Americans.